Tag
CRUDE OIL PRICES
Crude oil prices are expected to recover slowly once economic activities rebound globally.
Both oil benchmarks dropped below the $40.
Brent crude was down by 0.17%, to $41.94 a barrel, after falling 1.5% on Monday.
Saudi's made the biggest price cuts on its crude grades since May as demand recovery for fuel hopes faded.
Crude oil prices continue to climb up amid signs of gradual demand improvement.
Gulf Coast energy infrastructures were mostly spared the brunt of the damage
Brent crude futures dropped about, or 0.75%, to trade at $45.12 a barrel by 05.37 am GMT.
The surge in recent days in Covid-19 caseloads remains a great concern for oil traders.
OPEC’s policies were truly influenced by the 2014 fall in price.
OPEC+ meeting and a big draw in US crude and product inventories helped oil recover
Government generated N42.83 billion from exchange rate gains, and others from crude sales and VAT.
Brent crude is the leading global benchmark for Atlantic basin crude oils.