Home Topics Energy Information Administration

Energy Information Administration

Organisation of Petroleum Exporting Countries (OPEC) | Reuters

Oil prices ease after OPEC, allies reach new agreement

Oil prices eased on Thursday after OPEC and allies, such as Russia, agreed to taper record supply curbs from August, though the drop was cushioned by hopes for a swift U.S. demand pick-up after a big drawdown from the country’s crude stocks.

Oil prices rise as US stock drawdown eases supply glut fears

Oil prices advanced on Thursday as a drawdown of the U.S. crude inventories and output cuts by major producers helped ease concerns about a supply glut, though lingering fears over the global economic fallout from the COVID-19 pandemic capped gains.
Organisation of Petroleum Exporting Countries (OPEC) | Reuters

Oil falls as fears of second coronavirus wave take hold

Oil prices fell on Wednesday as potential OPEC+ plans to deepen supply cuts were overshadowed by demand concerns exacerbated by a possible second wave of coronavirus infections as countries ease lockdowns.
FILE PHOTO- The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, April 9, 2020. REUTERS-Staff-File Photo

Stocks rise on China trade data, easing pandemic fears

World stocks gained on Tuesday after Chinese trade data came in better than expected and some countries tried to restart their economy by partly lifting restrictions aimed at containing the coronavirus outbreak.

Oil prices tick higher after inventories dip

Crude oil prices edged slightly higher Thursday after the Christmas holiday, as a weekly inventory report indicated a bigger-than-expected decline in stockpiles for oil.

Oil falls as US rights bill fuels tensions with China

Oil prices fell for a second day on Thursday after official data showed U.S. crude and gasoline stocks rose and President Donald Trump signed into law a bill backing protesters in Hong Kong, fueling tensions with China.

Oil rises as data shows surprise drop in US crude inventories

Oil rose on Thursday after industry data showed a surprise drop in U.S. crude inventories, while comments from an OPEC official about lower-than-expected U.S. shale production growth in 2020 also provided some support.

Oil falls as US-China trade deal prospects dim

Oil prices fell on Wednesday as prospects for a trade deal between the United States and China faded, weighing on the outlook for the global economy and energy demand.

US oil imports increase, exports down last week

The United States’ crude oil imports increased while exports decreased during the week ending Oct. 25, the U.S. Energy Information Administration (EIA) said Wednesday.

Oil slips below $61 as weak demand outlook weighs

Oil slipped below 61 dollars a barrel on Thursday as concern over the demand outlook offset a surprise drop in U.S. crude inventories and the prospect of further action by OPEC and its allies to support the market.
Organisation of Petroleum Exporting Countries (OPEC) | Reuters

Oil prices edge higher as OPEC hints at deeper output cuts

Oil prices rose on Wednesday, tracking gains in equities, as investors pinned hopes on a potential Brexit deal between Britain and the European Union and on signals from OPEC and its allies that further supply curbs could be possible.

Oil prices fall as hopes of US-China progress wilt

Oil prices fell on Thursday on concerns of lower fuel demand as talks this week between the United States and China, are not expected to help end the trade war between them.

Oil falls a third day as US-China trade tensions may limit demand

Oil prices slipped for a third consecutive session on Wednesday as tensions escalated between the United States and China prior to this week’s trade talks, raising uncertainties for global economic growth and oil demand.

Oil slips as focus shifts from Saudi supply to global demand concerns

Oil prices eased on Tuesday as weak manufacturing data from Europe and Japan focused market attention on the gloomy outlook for demand and away from uncertainty around supply disruptions in Saudi Arabia.

Oil prices edge up after turbulent week as Saudi Arabia reassures on output

Oil prices edged higher in Asian trade on Thursday after days of turbulence, with markets soothed by Saudi Arabia’s pledge to restore full production by end-September at facilities knocked out in drone and missile attacks last weekend.

Oil at six-week high on Gulf of Mexico storm, Iran tensions

Oil prices hit a six-week high on Thursday as oil rigs in the Gulf of Mexico were evacuated ahead of a storm, while an incident with a British tanker in the Middle East highlighted tensions in the region.

Oil rises on falling US stockpiles

Oil prices rose on Wednesday after industry data showed U.S. stockpiles fell far more than expected, alleviating concerns about oversupply, while major U.S. producers evacuated rigs in the Gulf of Mexico ahead of a brewing storm.
Organisation of Petroleum Exporting Countries (OPEC) | Reuters

Oil prices drop as traders wait for G20, OPEC+ meetings

Oil prices fell on Thursday to erase some of the previous session’s strong gains, as traders wait for the G20 summit in Japan and for a meeting of OPEC and other crude producers to decide on an extension of output cuts.

Recent Stories

The governor of Ondo State, Rotimi Akeredolu, has reacted to his victory at the primary election of the All Progressives Congress (APC).

Ondo guber: APC leaders endorse Governor Akeredolu’s re-eelction

Leaders of the All Progressives Congress (APC) in Ondo State Sunday resolved to bury their hatchets and they endorsed the second term ambition of Governor Rotimi Akeredolu.
Godfrey Oboabona put in a good shift in Dinamo Batumi’s 4-0 triumph over FC Chikhura by accounting for an assist.

Godfrey Oboabona bags assist in Dinamo Batumi’s decimation of FC Chikhura

Godfrey Oboabona put in a good shift in Dinamo Batumi’s 4-0 triumph over FC Chikhura by accounting for an assist.
Nigeria's Diezani Alison-Madueke, Minister of Petroleum Resources and Alternate President of the OPEC

Diezani Alison-Madueke: ‘Yahoo’ boys have become role models

A former Minister of Petroleum Resources, Diezani Alison-Madueke, says societal values have disintegrated to the extent that online fraudsters otherwise known as ‘Yahoo boys’ have become role models in Nigerian society.
Atlético Madrid have confirmed that two member of their group have tested positive for coronavirus.

Atlético Madrid confirm two positive coronavirus tests

Atlético Madrid have confirmed that two member of their group have tested positive for coronavirus.
As Nigeria celebrates her 59th year independence anniversary, Governor Darius Ishaku of Taraba State has said that though the country is 59 years old, it has not matured.

Taraba governor sacks media aide hours after daughter’s wedding

Alhaji Hassan Mijinyawa, the Chief Press Secretary to Taraba Governor Darius Ishaku has been sacked.