Tag
BONNY LIGHT
Bonny light crude reached a four-month high, since early March 9, where its price fell to $37.22.
"This reduction in production provided excellent optics encouraging other OPEC + members to comply and even offer additional voluntary cuts, which should quicken the global oil markets' rebalancing act."
Bonny Light, dropped to about $12 - $13 a barrel this week, according to oil traders following the West African energy market.
Nigeria cut its official selling price of crude oil to record lows as it looks to clear a glut of unsold April-loading cargoes.
A monitored report suggests that Nigeria has reduced the official selling prices for its crude oil so as to clear an inventory of unsold April-loading cargoes.
Nigeria's oil exports are predicted to drop in July to around 1.43 million barrels per day. According to...
The Nigerian National Petroleum Corporation (NNPC) has indicated that it expects the force majeure on Nigeria's Bonny Light...