Oil prices hovered just below 2019 highs yesterday supported by ongoing supply cuts led by Organization of Petroleum Exporting Countries (OPEC). Similarly, U.S. sanctions against oil producers Iran and Venezuela are also boosting crude prices, although traders said the market looks capped by rising American output. The U.S. West Texas Intermediate (WTI) futures were down […]
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Oil Prices Dip amid Economic Slowdown - THISDAYLIVEOil prices dipped on Monday amid concerns that an economic downturn may dent fuel consumption, but crude markets remain broadly supported by supply cuts led by producer group, the Organisation of Petroleum Exporting Countries (OPEC), and U.S. sanctions against Iran and Venezuela. Brent crude oil futures LCOc1 were at $67.03 per barrel at 0231 GMT, …
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The US shale revolution waves - Vanguard News NigeriaOil prices slightly went up during the week with the WTI benchmark settling at US$56.87 while the Brent benchmark traded at US$66.65 on Tuesday. The slowdown in demand for petroleum, together with renewed oil stockpiling in the US and the issuing of waivers to eight countries to buy Iranian oil after imposed sanctions, pushed the price of Brent down from US$80 per barrel in October 2018 to US$66.65 on Tuesday.
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Movements in prices of cooking gas divergent as average petrol price drops - Vanguard News NigeriaThe National Bureau of Statistic (NBS) has reported a mixed development in average prices of Liquified Petroleum Gas, LPG, across the country but a decline in average price of premium motor spirit (petrol) in its survey for the month of February 2019 released yesterday.
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Nigeria, India: Consumers dump kerosene, gas as high prices persist – Study - Vanguard News NigeriaTHE relatively high prices of kerosene and cooking gas have compelled many households to take to increased utilisation of firewood in Nigeria.
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Prices of food stuff drop in February – NBS - Premium Times NigeriaThe Bureau says the average price of one kilogramme of rice (imported high quality sold loose) decreased from N366.04 in January to N364.38 in February.
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Prices of fuel, kerosene rose in February — NBS - Vanguard News NigeriaNational Bureau of Statistics, NBS, has said the average price for refilling a five kilogramme (kg) cylinder for Liquefied Petroleum Gas, otherwise known as cooking gas, increased by 1.37 per cent (month-on-month) to N2, 067.68 in February 2019, compared to N2,039.82 recorded in January.
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Oil prices stable as impact of supply cuts dented by fuel demand growth fears - Vanguard News NigeriaOil prices were stable on Friday, propped up by production cuts led by OPEC and as U.S. sanctions against Venezuela and Iran likely created a slight deficit in global supply in the first quarter of 2019.
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NNPC confident of meeting oil production target — Baru - Vanguard News NigeriaNigerian National Petroleum Corporation, NNPC, has expressed confidence that it would meet the target of 2.3 million barrels of oil per day, MBOPD, benchmark used in the 2019 Midterm Expenditure Framework, MTEF.
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Iran warns of firm response if Israel acts against its oil shipments – Daily TrustIran will respond firmly to any Israeli naval action against its oil shipments, Iran’s Defense Minister said on Wednesday, in comments that came a week after Israel’s Prime Minister said its navy could act against the Iranian oil “smuggling” to enforce U.S. sanctions. U.S. President Donald Trump last year quit a nuclear deal with Iran …
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