Nigeria’s economy recorded flat growth in the third quarter, as oil prices somewhat stabilized while the impact of reforms by the newly created government at boosting output were yet to have an impact. The economy expanded by 2.54% in Q3 2023, a…
THE GUARDIAN A few weeks ago, a two-month moving average of oil prices collapsed, turning the market to a greenish outlook. The figures, indeed, have been bullish in the past six months. Each trading day sends a firmer hope to…
NAIRAMETRICS Oil prices dropped over 4% at Monday’s trading session amid reports that reveal the fast-spreading new COVID-19 strain has shut down much of the United Kingdom. This has further led to tighter restrictions in Western Europe, thereby triggering fears…
RIPPLES NIGERIA Oil prices inched lower on Monday as a persistent rise in coronavirus infections around the world spurred a number of renewed lockdowns as well as new stringent measures in Southern California. Brent crude oil futures fell by 16…
REUTERS The magnitude of how damaged the energy industry is came into full view on April 20 when the benchmark price of U.S. oil futures, which had never dropped below $10 a barrel in its nearly 40-year history, plunged to…
THIS DAY In the last couple of days, oil has become a non-factor in Nigeria’s economic growth strategy. Indeed, oil has become a negative factor as global oil prices spiraled downwards across board. Nigeria is an oil-dependent country and not…
THE GUARDIAN As the price of crude oil crashes in the international market due to the coronavirus disease (COVID-19), groups in southern Nigeria, especially the Niger Delta, have called for immediate restructuring of the country. The publicity secretary of Pan…
INDEPENDENT The Organisation of the Petroleum Exporting Countries (OPEC) daily basket price stood at 14.63 U.S. dollars a barrel on Tuesday, compared with 14.19 dollars on Monday. This is according to OPEC Secretariat calculations released on Wednesday. Also known as…
PUNCH NEWS Brent crude, the commodity against which Nigeria’s oil is priced, dropped in price on Sunday despite the meeting of the Organisation of Petroleum Exporting Countries, Russia and other oil producing nations. Our correspondent observed that Brent crude dropped…
THE GUARDIAN Nigeria said Friday that a “historic” agreement between major oil producers to cut output by 10 million barrels per day, if it goes forward, could boost prices by $15. Oil cartel OPEC announced the agreement after marathon talks…