Oil price leaps to $78.00 as JMMC monitors market
The price of crude oil has risen from $76.00 to $78.00 to per barrel in the global market following limited inventories in the United States and Iran sanctions.
Budget 2017: Panic as oil price drops to $43.90 per barrel
For the first time, the price of crude oil has dropped from $46 to $43.90 per barrel in the international market, showing $0.60 cents below Nigeria’s $44.50 per reference price for the 2017 budget.
Oil price rises to $44.58, still threatens 2017 budget benchmark
OIL price, which dropped below Nigeria’s 2017 benchmark price of $44.50 per barrel, weekend, has leaped from $44.38 to $44.58 per barrel in the international market. Prices have trended downwards in the past two weeks as a result of increased shale oil supply by the United States.
Oil price crash: Worst days for Nigeria over – OPEC
Secretary-General of the Organisation of Petroleum Exporting Countries, OPEC, Mr. Mohammed Barkindo, yesterday, disclosed that the worst days for Nigeria due to the low price of crude oil were over.
Oil prices rise on weaker dollar ahead of Fed rate decision
Oil prices extended gains in Asia Wednesday as traders await a report on US stockpiles, and some analysts said the market was set for a rebalancing after touching bottom.
IEA says worst may be over for oil price
The oil price may have finally bottomed out after an unprecedented drop over the past 18 months, the International Energy Agency (IEA) said Friday, noting oil’s “remarkable recovery” over recent weeks.
Oil prices slide further
World oil prices fell sharply again on Tuesday in the wake of poorly-received economic data out of top energy consumer China.
Nigeria earns N3.27trn from oil in 10 months
Nigeria earned N3.27 trillion from the oil and gas sector in 10 months, between January and October 2015, data obtained from the Central Bank of Nigeria, CBN, has revealed.
IMF predicts oil price slump to $20 in 2016
THE days ahead may just be harder than envisaged as the International Monetary Fund (IMF) yesterday, said crude oil prices may slump to as low as $20 per barrel in 2016.
Senate approves MTEF as oil prices, Naira crash further
ABUJA — The Senate, yesterday, approved the Medium Term Expenditure Framework, MTEF, and Fiscal Strategy Paper, FSP, 2016-18 submitted by the Federal Government, basing the financial estimates on oil revenue at benchmark of $38 per barrel and exchange rate at N197/ $1. MTEF and FSP are the three-year fiscal plan from where the annual budget is extracted.
Naira hits new low at unofficial market
Nigeria’s naira fell 1.5 percent to a new low of 265 to the dollar on the unofficial market on Wednesday after the central bank rationed dollar supplies this week, traders said.
