Saudi Energy Minister Khalid al-Falih said on Tuesday that oil market fundamentals were improving after an agreement struck with top oil producers to curb supply and end a two-year glut…
Nigeria said it lost out on as much as $100 billion in revenue last year as attacks by militants in the oil-rich Niger Delta cut crude output to a record…
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Crude futures slipped on Monday as investors booked profits ahead of a key data that would indicate the progress of an ongoing multi-country effort to cut back oil production. “Traders…
Oil prices rose in the first trading hours of 2017, buoyed by hopes that a deal between OPEC and non-OPEC members to cut production, which kicked in on Sunday, will…
Nigeria’s foreign exchange reserves fell 11.7 percent to $25.72 billion by Dec. 28, from $29.13 billion a year earlier, central bank data showed on Friday. However, the reserves showed a…
Nigeria, one of two OPEC countries completely shielded from any cuts to its oil production, was in line for a windfall from the group’s agreement late last month to shore…
OPEC’s deal to cut oil production will go ahead even if Russia becomes the only non-OPEC country to commit to reduce output at a meeting this week, Nigeria said on…
OPEC finally agreed to curtail output during its meeting in Vienna on Wednesday. This marks the cartel’s first cut since 2008 and reverses its two-year strategy of pumping as much…
The world’s largest oil exporters agreed on Wednesday to cut output for the first time in eight years to erode a global supply overhang that has persisted for two years…
Saudi Arabia is walking away from upcoming talks with non-OPEC members, including Russia, amid disagreements on how to share the burden of oil production cuts. Russia is the world’s largest…