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Business

World’s Demand For Oil Will Drop In 2018, OPEC Warns Members

The New Diplomat with Agency Report The Organisation of Petroleum Exporting Countries, OPEC, has said that world’s demand for its crude will slide next year. According...
Business

Crude Oil Bounces Back, Rises Above $45 Per Barrel Despite Glut

Crude oil yesterday edged up from multi-month low, but prices remained under pressure from a supply glut that has persisted despite the efforts led...
Business

Nigeria Records N823bn Positive Current Account Balance

Nigeria recorded a positive current account balance of $2.72 (N823 billion) million in 2016, showing a sign of recovering from a deficit of $15.43...
Business

Kachikwu Wants OPEC’s Stiff Measures Against Shale Producers Sabotaging Global Oil

The New Diplomat's Economic Intelligence Desk With Agency Report The Minister of State for Petroleum, Dr. Ibe Kachikwu, has expressed the need for the Organisation...
Business

Economic Sabotage: Nigeria’s Oil Output Still Hovers Around 1.5mpd – Kachikwu

Following the destruction of several oil and gas infrastructures by militants leading to unrest and economy sabotage, Nigeria’s daily oil output still hovers around...
Business

OPEC output remains at 31.85 mbd, says S&P Global Platts

The 10 Organization of the Petroleum Exporting Countries (OPEC) members' crude output stayed unchanged in April at 31.85 million barrels per day compared to...
Nigeria

Revealed: How OPEC Oil War Cost Jonathan 2015 Election

By Dotun Akintomide & Olamilekan Okeowo The plan by former President Goodluck Jonathan to increase Nigeria's oil output from 2.1 million barrels per day (mbpd)...
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