Tag: crude oil
Nigerian oil slides below $95 after US-Iran ceasefire deal
Brent crude and West Texas Intermediate (WTI) also dropped by more than 15% at the time of publication.
OPEC+ to Increase oil output, warns recovery May be slow
The group said it will raise output by 206,000 barrels per day. However, this increase may not have much real…
How Nigeria earned $31.54 billion from crude oil exports in 2025
Gas exports and local refining helped support total exports, but rising imports and external payments reduced overall gains.
Europe, India top buyers as crude oil keeps Nigeria’s export engine running
Nigeria earned about ₦12.81 trillion from crude oil exports in the third quarter of 2025, according to the National Bureau…
Oil prices fall as OPEC plans to produce more
Sources say OPEC+ may agree to raise production by as much as 500,000 barrels per day in November three times…
2.06m bpd crude oil target in 2025 achievable, says Lokpobiri
"Nigeria has been doing 1.5 million barrels of production per day,” he said, adding that the industry has been able…
Historic move: Nigeria begins sales of Crude Oil in Naira
Effective from October 1, 2024, the Federal Executive Council (FEC) directive to trade crude oil and petroleum products in Naira…
Nigeria’s Oil Dependency and Urgent Economic Diversification
As part of the diversification strategy, Nigeria should explore and invest in various sectors, such as agriculture, manufacturing, technology, renewable…
How NNPCL intercepted vessel with 800,000 litres stolen crude oil
By Emmanuella Anokam A vessel conveying 800,000 litres of suspected stolen crude oil has been intercepted by a private security…
Nigeria no longer Africa’s highest crude oil producer – EIA
According to data from the Organisation of Petroleum Exporting Countries, Angola produced 1.063 million barrels per day in April, while…
Sri Lanka to reduce fuel prices as economic conditions improve
According to the minister, President Ranil Wickremesinghe has advised him to reduce fuel prices following the IMF bailout package and…
Oil slips as U.S. crude stockpiles rise
U.S. crude stocks rose by about 2.2 million barrels for the week ended Aug. 5, according to market sources citing…
Saudi Arabia causes hike in crude prices
Saudi Arabia raised the official selling price (OSP) for its flagship Arab light crude to Asia to a $6.50 premium…
Biden to release 180m barrels of crude oil to crash prices
The release from May is the largest release ever from the U.S. emergency oil reserve.
Omicron: Crude oil spot prices dropped by $1.74 in November – OPEC
OPEC, however, noted that world oil demand was unchanged compared to last month’s assessment, showing a growth of 5.7 mb/d…