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    Business Nigeria Loses N88bn As India, US Reduce Oil Imports

    The latest report from the Nigerian National Petroleum Corporation shown that India and the United States have slashed their imports of Nigerian crude oil by 43 per cent and 53 per cent, respectively, translating to a loss of at least N88bn in earnings. India, which became the single largest...
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    Business Crude Oil Benchmark Falls Below $40 Per Barrel

    Global oil benchmark, Brent crude, fell on Tuesday, reflecting growing concerns that a two-month rally might be fading, as supply looked set to keep rising and there appeared to be little immediate prospect of demand keeping pace. It fell by $1.27, or 3.15 per cent, to $39 per barrel, while the...
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    Business Oil Prices Crash To $38 For First Time Since 2009

    Crude oil prices continued at a six and a half year low on Tuesday, as the Organisation of Petroleum Exporting Countries (OPEC) basket price fell to $38.18 per barrel, one of its lowest since 2009. The basket price, which is calculated as an average of 12 crude oil variants sold by OPEC...