Experts in Nigeria’s hydrocarbon resources industry foresee that the planned commitment of about $13.5 billion in upstream oil and gas investment by oil majors could serve as stimulus to help Nigeria achieve its 2.6 million barrels per day (mb/d) production target in the next three years. President Bola Tinubu had expressed the readiness of the […]
Latest oil market analysis research findings by the Citigroup Inc, has predicted that oil prices could range between $70 to $80 per barrel in 2024. The Group, in the report, pointed out that to balance the oil market, the Organization of Petroleum Exporting Countries, OPEC+ will need to maintain its latest oil production cuts throughout […]
The International Energy Agency (IEA) has projected that supply cuts by some oil producing countries may not affect oil surplus in 2024. The head of the agency’s oil markets and industry division, Toril Bosoni, was quoted in a news report by Reuters as making the forecast on Tuesday during an interview. Bosoni, who shared some […]
The United Arab Emirates (UAE), the third largest oil producer in the Organization of Petroleum Exporting Countries (OPEC) has expressed intention to raise its oil output next year following the allocation of increased quota under the OPEC+ agreement. The country’s leaders said in the summer that the country would not join the Saudi Arabia on […]
Prices of Brent and West Texas Intermediate crude futures peaked Thursday to a near two-and-a-half year high briefly before sagging by some cents
Prospects of Nigeria and other commodity-exporting countries boosting their earnings from crude exports have brightened as oil prices were stable early today.
Prospects of Nigeria and other commodity-exporting countries boosting their earnings from crude exports have brightened as oil prices were stable early today