The effect of the United States’ Shale Oil on Nigeria?
OPEC is hoping Shale Oil loses steam and goes on the wane.
OPEC is hoping Shale Oil loses steam and goes on the wane.
OPEC+ is lowering output by 9.7 million barrels per day (bpd) for a third month in July.
Bonny light sold for $43.33, far below the price Nigeria sold its crude months ago.
JP Morgan Chase had predicted that oil prices would shoot up as high as $190 a barrel in 2025.
Brent crude is the leading global benchmark for Atlantic basin crude oil.
They talked on “ways of cooperation to enhance the stability “ of the Crude market.
Brent crude gained 1.1%, to trade at $41.73 a barrel by 6:30 am Nigerian local time.
Oil traders have flagged the start of hurricane season as a potential headwind for crude oil prices.
Recent dip is as a result of fears that a second wave of COVID-19 pandemic will disrupt the market.
Despite the output cuts from OPEC+ and curtailments in North America, crude oil prices may be short-lived as Brent crude ...
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