Tag
CRUDE OIL PRICE
It is obvious that the scale of the oil crisis has defied the efforts of OPEC+ and other oil-producing countries, as the idea of production shutdown is moving towards reality.
There appears to be no respite in sight for oil producers, as the volatility and continuous price slump in the global oil market continue.
Nigeria's currency is expected to have little price swings in the coming weeks, as the lockdown aggravates dollar shortages.
A historic deal to cut global crude oil output has been reached between OPEC, Russia and a group...
Crude oil price rose on Thursday after President Donald Trump showed faith that the damaging oil price battle between Saudi Arabia and Russia could be settled.
The Minister for Finance, Budget and National Planning, Zainab Ahmed, has warned that Nigeria might go into another round of recession.
The Presidency yesterday announced a reduction in the price of Premium Motor Spirit (PMS) to N125 from the current price of N145.
The severe pressure on Nigeria’s foreign exchange market has led to significant depreciation of the Naira across all the market segments.
Crude oil price crashed below $30 on Sunday evening's market-opening after Saudi Arabia launched a price war in reaction to Russia's decision not to cut output.
The facilities of Saudi Aramco suffered setback early Tuesday morning after explosive-laden drones attacked two pumping stations belonging to the state-owned oil company.
For every litre of Premium Motor Spirit (petrol) consumed in Nigeria, Akabueze confirmed that the nation spends N55 to subsidise the fuel through the Nigerian National Petroleum Corporation (NNPC)