Tag: Oil Prices
Biden Presents 3-Step Plan To Reverse Rising Oil Prices
During a live address at the White House yesterday, U.S. President Joe Biden presented what he called three “critical” steps to ensure American energy...
OPEC Daily Basket Price: Wednesday, 20 Jan. 2021, Stood at $55.75...
The price of OPEC basket of thirteen crudes stood at $55.75 a barrel on Wednesday, compared with $54.85 the previous day, according to OPEC...
Oil Responds to OPEC+ Latest Output Deal, Hits 10-Month High of...
Oil prices extended gains on Wednesday, rising to their highest since late February, after Saudi Arabia announced a big voluntary production cut, and as...
Oil Set to Drop by 20% as Fresh Lockdowns Weigh
The resurgence of the coronavirus at different pace, in different parts of the world is projected to occasion a 20 per cent drop in...
Fuel Imports Gulped N700.46bn in Three Months – NBS
The amount spent on the importation of petroleum products into Nigeria rose to N700.46bn in the third quarter of this year, moving closer to...
Oil Price: Brent Hits Above $50
Oil prices climbed nearly 3% on Thursday, with Brent surging above $50 a barrel for the first time since early March, fueled by hopes...
Oil Slips as Gloom Grows Over Soaring COVID-19 Cases, Lockdowns
Oil prices fell on Tuesday, adding to losses from the previous session that came as California tightened its pandemic lockdown through Christmas and coronavirus...
Crude Oil Peaks at $49.25/Barrel, Highest Since March
…Observers say it shows boost in demandPrice of crude oil peaked at $49.25/barrel in the international market, coming to sector players in Nigeria...
Oil Falls After OPEC+ Talks Delay Sets Off Supply Alarm
Oil prices fell on Tuesday as concerns over mounting supply returned to the fore after leading producers delayed talks on 2021 output policy, while...
Africa’s Economic Giant, Nigeria Reaches a ‘Critical Juncture’
More than 200 million Nigerians will slide further into poverty as the coronavirus pandemic has sent oil prices tumbling and pushed Africa’s largest economy...
Covid-19: Middle East Oil Producers Drowning in Debt
Oil producers in Arab Gulf are reportedly losing billions of U.S. dollars from oil revenues this year due to the impact of the Covid-19...
Kenya Slashes Petrol, Diesel and Kerosene Prices
Kenya has slashed the prices of super petrol, diesel and kerosene by Sh1.42, Sh2.21 and Sh2.10 per litre respectively, with immediate effect.
The Energy and...
NNPC Raises Petrol Depot Price, Product May Sell at N168-N170/litre
The Petroleum Products Marketing Company, a subsidiary of the Nigerian National Petroleum Corporation, has increased the ex-depot price of Premium Motor Spirit, also known...
News of Pfizer Covid-19 Vaccine Spurs 10% Increase on Oil prices
The significant progress reported on the development of a Covid-19 vaccine by pharmaceutical company Pfizer, triggered a leap in oil prices, agencies reported on Monday.The news of...
Fresh COVID-19 Lockdowns Drive Oil Prices to Four-Month Low
Oil fell to a four-month low, deepening Wednesday’s slump as Covid-19 lockdown restrictions grow in Europe.
Futures in London lost 3.9%, declining as the dollar...
Gabon Plans a Slight Reduction of its Oil Production in 2021
In 2021, Gabon’s oil production will drop by more than 10,000 bpd, according to the budget bill currently under review. A situation which will...
Nigeria: Oil Production Fell by 1.74mbd in September – OPEC
Crude oil production in Nigeria dropped by 1.74 million barrels in September, figures from the just released oil market report of the Organisation of...
Oil Price Slips as New Lockdown Measures Threaten Demand Recovery
Oil price slips on Thursday as new restrictions to stem a surge in COVID-19 infections have increased uncertainty over the outlook for economic growth...
OPEC+ Meets in November, Assures Stability in Oil Prices
Organisation of Petroleum Exporting Countries (OPEC+) alliance has assured that it will ensure that oil prices do not plunge steeply again when it meets...
Oil Falls Near 4% as COVID-19 Spike Continues and U.S. Debate...
Oil prices fell yesterday almost 4% to their lowest in two weeks on worries about the outlook for fuel demand as Europe and the...
