oil price

Visible Articles 5 10 15
OIL PRICE WATCH:  Bonny light price rises further

OIL PRICE WATCH:  Bonny light price rises further

THE price of Bonny Light, Nigeria’s premium oil grade, has increased further to $34.09 from $33.25 recorded on Sunday in the international market, as coronivarus pandemic lockdown continues to ease in many consuming nations, including China and the United States.

Saudi to cut oil output by another 1 mn barrels a day

Saudi to cut oil output by another 1 mn barrels a day

Saudi Arabia said Monday it had asked oil giant Aramco to cut output by an additional one million barrels per day from June, to support prices that have crashed during the coronavirus crisis. The move will reduce the output of the world’s biggest crude oil exporter (Saudi) to 7.5 million barrels per day, the energy […]

Oil prices drop amid supply glut, fears of second coronavirus wave

Oil prices drop amid supply glut, fears of second coronavirus wave

Oil prices fell on Monday as concern over a persistent glut and economic gloom caused by the coronavirus pandemic combined to cancel out support from supply cuts at some of the world’s top producers. Brent crude futures were down 29 cents, or 0.9 per cent at $30.68 a barrel by 0431 GMT, while U.S. West […]

UPDATED: Oil price crash: Privatise refineries, repeal PPPRA, PEF Acts, CSOs tell FG

UPDATED: Oil price crash: Privatise refineries, repeal PPPRA, PEF Acts, CSOs tell FG

A coalition of 14 Civil Society Organisations (CSO), yesterday, enjoined the Federal Government to urgently privatise the country’s four refineries and salvage the country from further loss of revenue, especially with the looming global economic downturn and the low crude oil price brought about by the novel Coronavirus (COVID-19) pandemic.