British based oil contract traded at about $63 a barrel while the WTI futures were trading slightly below the $60 price level.
The Nigerian Stock Market ended the first quarter of the year in deep red as the All-Share index fell to a loss of 3.04%.
OPEC+ understands the sensitivity of the oil markets, so it prepares accordingly.
The naira appreciated against the US Dollar on Wednesday, 31st March 2021, at the NAFEX window to close at N408.67 to a dollar.
The NNPC GMD has stated that Nigeria has fully complied with OPEC obligations.
The markets are dicey at the moment and the idea of a supercycle might have just been a farce.
U.S based oil contract, West Texas Intermediate futures plunged by 6.4%, and Brent crude futures dropped by 6.8%.
Brent crude futures were down by more than 0.6% to trade at $67.50 a barrel after losing 0.6% yesterday.
Brent crude is on track to post weekly gains for the eighth week after touching a 13-month high at the first trading session of the week.
Here are key takeaways from OPEC's recent meeting as the organisation shows admirable strategy in the global oil market management.
