…..consumers to pay more for fuel, other items Oil prices at the global markets rose to a nine-year high since 2014 on Tuesday as Saudi Arabia announced the sustenance of its voluntary production cuts of one million barrels per day until the end of 2023 even as Russia also expressed its export cuts of 300,000 […]
Tag: Russia
OPEC Cuts Nigeria’s 2024 Production Quota To 1.38MB/D
The Organization of Petroleum Exporting Countries OPEC+ members agreed to maintain their current crude oil supply through the end of 2024, following a weekend of intense oil diplomacy in Vienna, Austria Similarly, quotas for 2024 were lowered for production under-performers, including Nigeria, Angola, Azerbaijan, Malaysia, Congo and a few more countries. Under the arrangement Nigeria’s […]
Russia Hit By $3.4bn Promsvyazbank Bailout In Latest Bank Blow
Russia’s central bank may have to sink up to $3.4 billion into its bailout intervention today of Promsvyazbank, the country’s 10th largest private lender, the third such rescue this year.