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Oil prices mixed as U.S. gasoline stocks shrink, but crude stockpiles grow

Oil futures were mixed on Wednesday as concerns about oversupply in the market, stoked by a rise in U.S. crude inventories, were offset by a drop in gasoline stocks that...

Oil prices tick up amid mixed signals from U.S. data

Oil prices ticked up on Thursday after U.S. oil product stocks shrank, providing bulls with ammunition ahead of a meeting between OPEC producers and their allies to...

Oilfield bid round: FG may generate N3.17bn from fees

The Department of Petroleum Resources have revealed that a total of N3.17bn may be generated from the payment of fees for the marginal fields put on offer for bidding....

Oil steady as economic worries offset signs of firmer demand

Oil prices held steady on Wednesday despite signs of improving demand and a drawdown in U.S. crude inventories, as worries over the economic fallout from the coronavirus...

FG To Amend 2020 Budget Oil Benchmark To $20pb

The Federal Government will review the 2020 budget to reflect an oil benchmark of $20 per barrel. Minister of Finance, Budget and National Planning Minister, Zainab...

Budget: FG slashes oil benchmark to $30 per barrel

The Federal Government has proposed the reduction of oil benchmark, upon which the 2020 budget was predicated, from $57 to $30 per barrel. This decision was reached...

Oil extends slide, nears $30 a barrel as virus weighs on global economy

Oil prices extended losses on Monday, slumping by more than $1 a barrel, as an emergency rate cut by the U.S. Federal Reserve failed to soothe global financial markets...

Oil dips as markets await Iran response to US killing of military commander

Oil prices edged lower on Tuesday (Jan 7), coming off their highest levels in months as the market calmed while the world braces for Iran’s response to the killing...

Crude oil, gas exports increase by 53% –NNPC

The Nigerian National Petroleum Corporation has announced that crude oil and gas export sales increased by 52.84 per cent to $355.93m in September 2019. NNPC’s crude...

Oil prices surf near three-month highs after U.S. crude inventories fall

Oil prices remained in touching distance of three-month peaks on Thursday, extending a robust streak that began a week ago, after data showed U.S. crude inventories had...