NNPC Revises Crude Oil Prices Downward For May     The Nigerian National Petroleum Corporation (NNPC) has released its crude official selling prices (OSPs) for May, cutting values for all its grades from the decades-lows in April. According to a news report sourced from argusmedia.com, the state-owned oil...

US Oil Slips Below $15 Per Barrel   US oil prices fell heavily on Monday and slipped below $15 a barrel on renewed storage concerns as the coronavirus throttles demand, even as producers start slashing output to boost markets. American benchmark West Texas Intermediate dropped 15 percent...

OPEC Daily Basket Price Stands At $14.63 Per Barrel   The Organisation of the Petroleum Exporting Countries (OPEC) daily basket price stood at 14.63 U.S. dollars a barrel on Tuesday, compared with 14.19 dollars on Monday. This is according to OPEC Secretariat calculations released on Wednesday. Also known...

Oil Continues Slide On Dismal Global Demand Outlook   Oil prices are seeing further downward momentum as gloomy demand outlooks continue amid economic pain caused by the coronavirus pandemic. United States West Texas Intermediate (WTI) fell as much as 13 per cent to $17.31 per barrel at...

Why Kerosene, Diesel Prices Have Not Dropped – Marketers   Major fuel marketers in the country have said the expected reduction in diesel and kerosene prices has not materialised because of their inability to access foreign exchange for importation in recent weeks. Economic Confidential reported on Monday...

Oil Price Plunges To $22, Cheapest In 18 Years   The international oil benchmark, Brent crude, plunged to its cheapest in 18 years on Monday as it traded around $22 per barrel. This comes amid growing fears that the global coronavirus shutdown could last months and demand...