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RUSSIA
Oil Is Back after Donald Trump tactfully negotiated one of the most important diplomatic deals with Saudi and Russia
Although the energy industry provides more than 10 million jobs with almost 8% of the country’s GDP, the US is less dependent on oil compared to average OPEC countries. However, its shale industry remains vulnerable to severe credit crunch and bankruptcies.
OPEC and Russia have rescheduled a meeting set for Monday to discuss oil production cuts and ending a cruel oil price war.
OPEC and other oil-producing countries are working on a deal for an unmatched production cut equivalent to about 10% of global supply,
There might be hope for Nigeria and other producers in the oil market as Russia says it is still open to OPEC negotiation on oil production cut.
Minister of State for Petroleum, Timipre Sylva said the Organization of OPEC and non-OPEC countries would meet over production cut.
Brent crude, international oil benchmark, dropped to $46 per barrel, as Russia, bluntly refused to agree to a deeper crude production cuts plan.
The Russian Federation has disclosed plans to enhance bilateral co-operation between with Nigeria to develop the latter's energy sector.
Bitcoin, the world’s biggest cryptocurrency by market capitalization this week crossed the $11,000 mark for the first time...