oil market

KEY POINTS The European and African oil markets are tightening sharply as Asian buyers increasingly compete for limited crude supplies, pushing key benchmarks and differentials to record highs ahead of …

KEY POINTS Concerns over potential monopoly in Nigeria’s fuel market are intensifying after the Dangote Petroleum Refinery emerged as the dominant supplier of petrol following the Federal Government’s suspension of …

KEY POINTS Dangote Petroleum Refinery and Petrochemicals has reassured Nigerians that it will continue to maintain a steady supply of petrol despite recent disruptions in the global oil market. The …

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 …

Oil prices drop nearly 2%, driven by demand concerns, tariff disputes, and Iran nuclear talks

Oil prices slid over 4% following reports of a potential Hezbollah-Israel ceasefire, easing market fears of broader conflict in the Middle East.

Oil prices rebound with U.S. crude stockpiles dropping and interest rate cut prospects improving, signaling potential economic growth and increased demand for oil.

The United States has clarified its position on India’s purchases of Russian oil, stating they don’t object to India buying discounted Russian crude, as long as Western shipping and financial …

Oil prices took a breather on Friday, ending the week virtually unchanged. While hopes for a ceasefire in Gaza offered a welcome respite, the ongoing war in Ukraine continues to …

OPEC+ members agreed to extend their voluntary oil output cuts into the second quarter of 2024, boosting oil prices and signaling confidence in the global economic recovery. The decision, announced …