Rising oil prices and global trade worries are pressuring emerging economies, International Energy Agency Executive Director Fatih Birol told Reuters.
India faces an “economic crisis” due to its huge oil imports, two local TV channels…
Oil prices were largely up yesterday as traders waited to see whether oil- producing countries set to meet in Vienna, Austria would extend production limits to reduce the global crude glut.
The brent crude was trading at $56.29 dollars a…
The Organisation of the Petroleum Exporting Countries (OPEC) has listed the challenges confronting the oil market to include uncertain prospects for the global economy; excessive speculation and the role of financial markets.
Others, the…
The era of cheap oil may soon come to an end, if the prediction of the International Energy Agency, IEA, is anything to go by. The IEA said that there will be a rise in oil price due mainly to unplanned outages and disruptions in places…
Oil prices extended their losses on Wednesday, falling nearly 3 percent, after a smaller-than-expected U.S. inventory draw-down and jitters ahead of a vote on whether Britain should stay in the European Union.
Crude futures rose early in…
…First since 1998
OPEC’s 2015 oil export revenues slumped 46 percent to a 10-year low, the group said in a report published, underlining the impact on producers’ income from a collapse in prices.
Oil prices at about $50 a barrel are half…
…wants NCDMB to build collaborations
The recent removal of subsidy from the pump price of premium motor spirit is saving the Federal Government over N1.4 trillion that would have been expended on subsidy claims per annum, the Minister of…
OPEC has forecast that the world oil market will be more balanced in the second half of the year as outages in Nigeria and Canada help erode a supply glut that has weighed on prices more quickly than expected.
The Organisation of the…
London – Brent crude prices held at about 50 dollars a barrel on Friday as sign that the oil market was moving back to more balanced supply and demand.
It was also believed that just-concluded meeting of the Organisation of Petroleum…
Nigeria’s Minister of State for Petroleum, Dr. Emmanuel Ibe Kachikwu, has faulted Saudi Arabia’s insistence to keep oil market share despite dwindling oil prices, saying it was a policy “gone too far.”
Kachikwu, who is bullish over the…
