Nigeria's oil production has risen to 2.1 million barrels a day, the managing director of state oil firm NNPC has said, without giving an explanation for the increase.
"We are hoping that by the end of 2017 we should ramp up production to above 2.2...
Oil prices rose on Monday but the gains were limited as investors gauged whether an increase in U.S. drilling rigs and record stockpiles would undermine efforts by producers to cut output and bring the market into balance.
Brent futures were up 17 cents at $55.98...
Oil prices dipped over concerns that OPEC producers would not be able to maintain their high compliance so far with output cuts aimed at reining in a global fuel supply overhang.
Brent crude was trading at $55.83 per barrel at 0800 GMT (3 a.m. ET),...
Crude supplies to Japan from its biggest supplier Saudi Arabia will not be impacted by last year’s agreement between OPEC and non-OPEC countries to cut output, a senior official of the kingdom has said.
“The recent agreement among OPEC and non-OPEC members for oil exports...
A financial expert has described the oil price benchmark adjustment by the Senate in the 2017 budget from 42.5 dollars per barrel to 44.5 dollars per barrel as realistic.
The Head of Banking and Finance Department, Nasarawa State University, Keffi, Dr Uche Uwaleke, said that...
Oil markets edged higher on Tuesday on expectations that at least some planned production cuts would be implemented, making a slight recovery from big losses the previous day over doubts the agreed reductions would rebalance an oversupplied market.
According to Reuters, Brent crude futures, the...
