Oil Price

The US has said that Russia could still evade the planned price cap on its oil because it may likely have access to enough own tankers and transport and insurance services to ship its oil. The US is leading a G7 Group coalition smarting…

The Institute for Energy Security (IES) has projected that the price of fuel would increase marginally in the first pricing window of January, 2021. Institute for Energy Security stated that its projection was based on the prices…

Despite the gains stirred up by the news of coronavirus vaccines, the global oil demand will take another year or so to return to pre-pandemic levels—by late 2021 or early 2022, an energy expert has said. Markit vice chairman, Daniel…

Oil prices slips on Tuesday, extending sharp losses overnight, as the rapid spread of a new strain of the novel coronavirus in the United Kingdom prompted several countries to close their borders to British travellers and freight. U.S.…

Nigeria Outlook has clear oil exploration potential but government policy on the sector is unclear, with one option being a switch to gas. Companies working in Nigeria’s energy sector have called for a faster rate of change from the…

…But Reject Strike Action by NLC, TUC as solution Two oil sector organisations, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), and the Natural Oil and Gas Suppliers Association of…

Pita Ochai As oil price return to $70/bbl, exporting countries are on the jubilation side. Production cuts by the Organisation of Petroleum Exporting Countries, OPEC, and its partners, a coalition that pumps about half of the world’s oil,…

THE oil market has rebalanced as Brent will reach $82.50 a barrel within six months, Goldman Sachs, a leading global investment banking, securities and investment management firm that provides a wide range of financial services said. Oil…

The Brazilian parliament has approved a legislation aimed at removing Petrobras’ obligation as sole operator of the country’s pre-salt developments. According to analyst Douglas-Westwood (DW), these ultra-deepwater fields, discovered in…

President Muhammadu Buhari in Doha, Qatar, has stressed the need for member states of OPEC and non members to unite and find a common ground to stabilise crude oil prices. The president labelled the current market situation in the…