crude oil

KEY POINTS Nigeria’s crude oil output in October reached 1.401 million barrels per day, marginally higher than September’s 1.39 million barrels per day, according to the latest Organisation of Petroleum …

KEY POINTS Nigerian crude prices held firm on Wednesday as data showed that US oil and fuel inventories dropped more than expected, offering a fresh spark to global oil markets. …

KEY POINTS Oil prices extended their decline on Wednesday, clinging to five-month lows amid mounting anxiety over a renewed US-China trade spat and forecasts of an impending supply glut that …

KEY POINTS As it strives to meet ambitious output targets and draw in foreign investment, Nigeria’s oil production has surged to its highest level in six months, a development that …

KEY POINTS Nigeria’s production of oil increased in July, giving the continent’s biggest producer new impetus to recover barrels that were lost to sabotage, theft, and years of underinvestment. According …

KEY POINTS Far from the busy markets of London or New York, the flickering numbers on trading screens—Brent crude at $67.02 a barrel—tell a different story. That figure is more …

KEY POINTS Petroleum remains king in Nigeria’s export economy, commanding a lion’s share of its foreign trade earnings and reinforcing the West African nation’s position among the world’s major oil …

OPEC+ denies speculation about postponing its April oil supply hike, with Russia confirming production increases remain on schedule.

The Organization of the Petroleum Exporting Countries (OPEC) is shifting its focus in oil market reporting. Instead of estimating demand for its own crude oil production, OPEC will now prioritize …

The Dangote Refinery, a $20 billion project and soon to be Africa’s largest refinery, is set to begin operations after years of construction delays. The Nigerian National Petroleum Corporation (NNPC) …