By Babajide Komolafe   In spite of the rising trend in the price of crude oil, the nation’s external reserves have fallen by $1.86 billion in seven weeks to $34.66 billion. The price of crude oil, which accounts for 90 per cent of the nation’s dollar earnings, has been on the upward trend  since November […]

SAUDI DRONE ATTACK: Oil price fluctuates, as Nigeria’s petrol price stabilises

By Udeme Akpan For the first time in 2021, the price of oil has risen to $71.28 per barrel in the international market, barely a few days after the Organisation of Petroleum Exporting Countries, OPEC, and non-OPEC members had resisted pressure to increase output. Prior to the crucial 14th Meeting of OPEC and non-OPEC ministers, […]

By Obas Esiedesa The Minister of State, Petroleum Resources, Chief Timipre Sylva has admonished Nigerians to be ready to bear the pains of increased petrol pump price as crude oil price climbs above $60 per barrel. Speaking at official launch of Nigerian Upstream Cost Optimisation Program on Tuesday, Sylva said with no provision of subsidy […]

By Udeme Akpan The price oil has risen to $60 per barrel in the international market as Iraq and Kazakhstan commit to the Organisation of Petroleum Exporting Countries, OPEC oil cut deal. For instance, the price of Brent, usually used to benchmark other oil prices rose from $59 to the current price on February 8, […]