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New Oil Price Raises Hope For Nigeria’s 2019 Budget

New Oil Price Raises Hope For Nigeria’s 2019 Budget

The oil price rebound, yesterday, reached a significant point, selling at $60 per barrel, as the Organisation of Petroleum Exporting Countries, OPEC, continue to withdraw excess oil from the international market. Prices of Brent, West Texas Intermediate, WTI, and OPEC Basket of 14 crudes stood at $60.00, $59.91 and $56.11 per barrel respectively. Further check […]

Nigeria’s Oil Producers Are Itching to Pump More

Nigeria’s Oil Producers Are Itching to Pump More

Add independent Nigerian drillers to the list of oil producers itching to supply more crude at a time when OPEC and allies like Russia are trying to restrict output and prop up prices. Domestic Nigerian producers are aiming to pump almost 250,000 barrels a day more crude by 2020 as part of a wider plan […]

Oil Price Declines Weigh On European Markets

Oil Price Declines Weigh On European Markets

European shares fell on Wednesday maintaining a gloomy trend set in Asia and the United States, and with concerns about a global glut of oil looming over the market. Mixed results from the continent’s banking sector and losses in the mining sector pushed the pan-European STOXX 600 index down 0.6 percent. The losses came after […]

Oil Prices Fall For First Time In Three Days

Oil Prices Fall For First Time In Three Days

Oil prices fell in Asian trade after a strong two-day rally that was fed by easing concerns Britain would leave the European Union after a referendum this week, allowing market participants to focus on supply issues. U.S. crude’s expiring July front-month contract CLN6 was down 41 cents at $48.96 a barrel at 0650 GMT. The […]