Organisation of the Petroleum Exporting Countries
President Buhari defends borrowing to fund infrastructure
President Muhammadu Buhari Tuesday justified government borrowing to finance infrastructure, asserting that his government took loans in the interest of the country to solve the dire shortfall in infrastructure.
Oil moves higher as storm threatens United States Gulf Coast
Oil prices rose on Monday as a tropical storm in the Gulf of Mexico prompted drillers to evacuate rigs and shut-in production.
Oil prices hold near multi-week lows on demand worries
Oil prices edged up on Thursday, but held near multi-week lows hit overnight after U.S. data showed gasoline demand fell and recovery from the COVID-19 pandemic was lagging.
Oil rises towards $46 on US inventory drop, economy hopes
Oil rose towards $46 a barrel on Wednesday, gaining for a third day, supported by a report that United States crude inventories fell.
Oil prices advance as China ramps up United States crude imports
Oil prices rose on Monday as China’s plans to ship in large volumes of United States crude in August and September outweighed concerns over a slowdown in demand recovery after the coronavirus pandemic and an uptick in supplies.
Oil prices rise, head for weekly gain
Oil prices advanced on Friday and were heading for the second week of gains amid growing confidence that demand for fuel is starting to pick up.
Oil prices fall over rising coronavirus numbers
Oil prices slid on Tuesday amid concerns that a nascent recovery in fuel demand could stall as a fresh wave of COVID-19 infections around the world sparks tighter lockdowns.
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 edges lower as US inventory build stokes supply fears
Oil prices dipped on Wednesday after industry data showing a build in United States crude stockpiles added to worries about oversupply, but hopes for a swift economic recovery in China limited losses.
Oil prices fall amidst US coronavirus case surge
Oil prices fell on Tuesday, erasing earlier gains, on concerns that the surge in coronavirus cases in the United States, the world’s biggest oil user, will limit a recovery in fuel demand.
Oil prices slump as wary traders eye upcoming OPEC+ meeting
Oil prices edged down on Monday as traders took profits, with the Organisation of the Petroleum Exporting Countries (OPEC) considering meeting as soon as this week to discuss whether to extend record production cuts beyond end-June.
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.
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.
OPEC daily basket price stands at $14.63 per barrel
The Organisation of the Petroleum Exporting Countries (OPEC) daily basket price stood at 14.63 U.S. dollars a barrel on Tuesday, compared with 14.19 dollars on Monday.
OPEC output slips on Nigeria, Iraq compliance
The oil output of the Organisation of the Petroleum Exporting Countries (OPEC) fell in December as Nigeria and Iraq adhered more closely to pledged reductions and top exporter Saudi Arabia made further cuts ahead of a new production-limiting accord, a Reuters survey found.
Mixed reactions trail continued Iran-US tensions
The tensions in the Middle East, after a U.S. airstrike killed a top Iranian military commander, have continued to generate mixed reactions from members of the international community.
Oil prices fall as Russia touts easing OPEC+ output
Oil fell on Monday after Russia said an OPEC-led pact may consider easing output cuts next year, but prices held near recent three-month highs on hopes for a trade deal between the United States and China.
Oil prices rise on OPEC deficit forecast
Oil prices rose on Thursday, recouping some of the previous session’s losses after OPEC forecast a supply deficit next year and the U.S. Federal Reserve said the economic outlook was favorable.
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Peter Obi begs youth to end protest
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Kwara: Looters voluntarily returning stolen items to designated places
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Youths begin house-to-house appeal in Ibadan
Youths in Ibadan under the aegis of Oyo State Leading Patriots, yesterday, said it has begun a house-to-house appeal to #ENDSARS protesters and other people who have hijacked the protests in the state.
#EndSARS: No DPO has been killed in Rivers – Police
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