Tag
OIL PRICES
As world economies around the world re-open businesses, Brent crude gained about 3% percent to trade at $33.83 a barrel at 2.30 am Nigerian time
Kachikwu talks African Oil and Gas, COVID19 and the future of energy.
With the slowdown in supply glut and improvement in oil demand due to easing of lockdown in economies across Europe, Asia, Africa, and so on
The crash in oil prices would be felt by countries and oil companies that heavily rely on oil for the lion share of their income.
Oil prices have continued its downward trend, with Brent crude falling below its average unit cost of production of c.US$23. T
Brent crude futures slumped by more than 25% on Tuesday 10.45 am Nigerian local time, closing below $20 a barrel.
Global crude oil prices rose early Friday morning after US President, Donald Trump, laid out unprecedented measures aimed at reviving the American economy which has been devastated by the Coronavirus pandemic.
Nigeria is currently fighting on many fronts, battered by the sudden plunge in oil prices and the global economic slowdown resulting from the COVID-19 pandemic.
Oil prices slumped on Monday morning in Asia as the Coronavirus pandemic continued to hurt demand while the price war between Saudi Arabia and Russia remained unresolved.
Oil prices fell today as political leaders around the world escalated lockdowns to curb the spread of the global coronavirus pandemic.
The on-going Coronavirus outbreak ravaging the earth has not only disrupted the personal plans of many, but also the global economy.
Oil prices slumped further on Monday to $30, the lowest in four years. Price of the Brent crude dropped by 10% to $30.49 per barrel.