Crude oil prices rose higher after the International Energy Agency (IEA), in its May oil market report, had predicted lower global inventories in the second half of 2020
Brent crude had an impressive gain of about 23%, while U.S oil surged by about 17%.
Nigeria seems to be falling into a deeper revenue mess as the price of the country’s headline crude, Bonny light fell below the prices of Brent crude and US headline WTI crude.
US President Donald Trump has disclosed that the Organisation of Petroleum Exporting Countries and allies (OPEC+) is looking at 20 million barrels per day oil cut and not the 10 million bpd that is widely reported
A historic deal to cut global crude oil output has been reached between OPEC, Russia and a group...
Saudi Arabia and Russia have struck a deal on a deep output cut.
Global oil prices declined significantly late yesterday as news reports filtered into the market of an impending price war between Saudi Arabia and Russia.
