Tags : Crude Oil Demand

Nigeria’s Oil Output Drops 23.8% 

According to the Organisation of Petroleum Exporting Countries, OPEC, Nigeria’s oil output dropped Year-on-Year by 23.8 percent to 1.024 million barrels per day, mbpd, in May 2022. This is a drop from 1.344 mbpd recorded in the corresponding period of 2021. In its June 2022 Monthly Oil Market Report, OPEC stated that the figure, excluding […]Read More

Nigeria’s Foreign Exchange Reserve Losses: What You Should Know

New figures made available by the Central Bank of Nigeria (CBN) has revealed that the West African country’s foreign reserves recorded a $481.4 million decline in January 2022 to close at $40.04 billion, showing a 1.2% fall from the previous month. Data from the CBN show a steady monthly decline from November 2021 till now. […]Read More

Oil Price Rises To A Three-Year High At Nearly $80

Oil price has continued to climb as demand recovers faster than was predicted. The global benchmark Brent is up at nearly $80 a barrel, its highest price since October 2018. Brent crude was up 1.73 percent to $79.44 a barrel by 4:06 pm ET (21:06 WAT), having posted three straight weeks of gains. United States […]Read More