The Federal Government has disclosed that it is looking forward to drilling more barrels of oil with the renewal of exploration licences in Bauchi and Gombe states. The Minister of State for ...

With WTI below $60 a barrel, oil rig counts are apt to decline and could eventually slow U.S. output enough to begin offering price support, “especially if accompanied by other key non-OPEC ...

U.S. oil prices fell to $57 a barrel after the OPEC Plus cartel said this weekend that it would pump more oil. By Rebecca F. Elliott Oil prices resumed their slide after the OPEC Plus cartel of ...

Crude oil prices have crashed in the last few days with crude barely moving above $60 a barrel on Tuesday. Crude oil prices had settled at their lowest since February 2021 on Monday. This tends to ...

NEW YORK/LONDON, May 5 (Reuters) - Oil fell by more than $1 a barrel on Monday to settle at over four-year lows as an OPEC+ decision to expedite its output hikes stoked fears about rising global ...

The price of crude oil is expected to average $64 per barrel in 2025, the World Bank has revealed in its April 2025 Commodity Markets Outlook. This is compared with $80.7 per barrel in 2024.

The Office of the National Security Adviser, NSA, says the federal government is committed to achieving crude oil production target of 2.5million barrels per day. The National Security ...

An 18-year-old VW Golf Mark IV, with only 113,000 miles but years of neglect, undergoes a thorough deep cleaning and ...

The Opec+ alliance of oil-producing countries has agreed to increase production for a second month in a row in June, the latest move in a plan to reverse the group’s output cuts. The group will add ...

Strategic Petroleum Reserve increased from 398.5 million barrels to 399.1 million barrels. Domestic oil production declined from 13.465 million bpd to 13.367 million bpd. Oil markets tested ...

There are signs that the peak is already at hand. Twenty years ago, the U.S. produced about 5 million barrels of crude oil per day, down by half from the 1970s. With even remote fields like Alaska ...

KUWAIT, 9th May, 2025 (WAM) -- The price of Kuwaiti crude oil fell by US$1.48 during Thursday’s trading, settling at US$62.57 per barrel, compared to US$64.05 the previous day, Kuwait Petroleum ...