Tag: Oil Prices
Chad Pleads for Suspension of Oil-for-Cash Loan with Glencore
Chad has asked Glencore Plc to suspend payments on its oil-for-cash loan this year, but Bloomberg reported yesterday that the move could prove a...
Libyan Potential Output, Others Nudge Global Oil Prices
Oil prices fell on Monday on the potential return of output from Libya as rising corona virus cases reportedly added to worries about global...
Saudi Energy Minister Presses OPEC+ on Fulfilling Oil Cuts
Saudi energy minister, Prince Abdulaziz bin Salman has warned OPEC+ compliance laggards, saying that failing to execute pledged production cuts was undermining the alliance’s...
Global Oil Prices Drop Following Saudi Cuts, China Imports Slowdown
Oil prices fell by more than 1% on Monday after touching their lowest points since July as Saudi Arabia made the most profound monthly...
HIGH PRICES START TO WEIGH ON ECONOMIES, DEMAND
Rising oil prices and global trade worries are pressuring emerging economies, International Energy Agency Executive Director Fatih Birol told Reuters.
India faces an “economic crisis”...
OPEC Meets As Oil Prices Hit $57
Oil prices were largely up yesterday as traders waited to see whether oil- producing countries set to meet in Vienna, Austria would extend production...
OPEC List Challenges Confronting Global Oil Market
The Organisation of the Petroleum Exporting Countries (OPEC) has listed the challenges confronting the oil market to include uncertain prospects for the global economy;...
Era of cheap oil coming to an end- IEA
The era of cheap oil may soon come to an end, if the prediction of the International Energy Agency, IEA, is anything to go...
Oil down 3 percent after modest U.S. draw; swings seen pre-UK...
Oil prices extended their losses on Wednesday, falling nearly 3 percent, after a smaller-than-expected U.S. inventory draw-down and jitters ahead of a vote on...
Oil price fall tips OPEC current account into deficit in 2015
…First since 1998
OPEC’s 2015 oil export revenues slumped 46 percent to a 10-year low, the group said in a report published, underlining the impact...
FG saving N1.4 trillion per annum from subsidy-Kachikwu
…wants NCDMB to build collaborations
The recent removal of subsidy from the pump price of premium motor spirit is saving the Federal Government over N1.4...
OPEC expects balanced oil market in second half of 2016
OPEC has forecast that the world oil market will be more balanced in the second half of the year as outages in Nigeria and...
Brent Crude Oil Goes Above $50
London – Brent crude prices held at about 50 dollars a barrel on Friday as sign that the oil market was moving back to...
Dwindling Oil Prices: Kachikwu Faults Saudi’s Market Share Policy
Nigeria’s Minister of State for Petroleum, Dr. Emmanuel Ibe Kachikwu, has faulted Saudi Arabia’s insistence to keep oil market share despite dwindling oil prices,...
