Oil prices bearish as OPEC meets to review production
Oil prices fell slightly yesterday, as shipping traffic resumed through the Suez Canal after days on hold and attention now switched to an OPEC+ meeting tomorrow where the extension of supply curbs may be on the table amid new coronavirus pandemic lockdowns.
Oil prices slump on renewed lockdowns
Oil prices slumped Tuesday on lower demand prospects as Europe's biggest economy Germany said it would reimpose strict coronavirus containment measures and struggles along with other EU nations to roll out vaccines.
Bullish oil prices: How to maximise advantages
A few weeks ago, a two-month moving average of oil prices collapsed, turning the market to a greenish outlook. The figures, indeed, have been bullish in the past six months.
Stable oil prices won’t resolve Nigeria’s economic challenges’
An investment expert and Chief Executive of EFG Hermes Nigeria Limited, Lilian Olubi, has said that rising oil prices would help Nigeria to achieve economic stability. She, however, said a stable oil market alone would not resolve the country’s economic problems.
FG’s earnings reduce by 60%, amidst low oil prices, poor FIRS receipts, says Sylva
Minister of State for Petroleum Resources, Mr Timipre Sylva, says Federal Government’s earnings, from oil and non-oil sectors coupled with low revenue receipts from the Federal Inland Revenue Service (FIRS), have dropped by 60 per cent, putting the nation’s economy under serious pressure.
Oil prices slide in lockdown-driven rout
Oil prices dived Thursday on demand fears as more nations go into lockdown to staunch the spread of the coronavirus, while stock prices attempted a modest rebound. Both main oil contracts fell five percent for part of the day before clawing back some of their losses, extending this week's meltdown to plumb four-month lows on…
Oil prices rise 1% as mood on dollar sours
Oil prices gained on Tuesday, reversing overnight losses, as investors moved into risk assets and stayed away from the safe-haven U.S. dollar which hit multi-year lows.
Oil prices ease after OPEC, allies agree to taper oil supply curbs
Oil prices fell on Thursday after OPEC and other producers including Russia agreed to ease record supply curbs from August, though the drop was cushioned by tightening global inventories as economic activity picks up.
A new budgetary framework for Nigeria
Nigeria needs a new budgetary framework. To appreciate why a new budgetary framework is required, it is important to explain how the current budgetary framework works. Since oil earnings became the dominant source of government revenue, federal budgets have been prepared on the basis of prevailing or projected oil prices. ln other words, the federal…