Brazil increased crude exports to Asia in the first half of the year, stealing a slice of a coveted developing market from global rivals who made record cuts to shipments to match the…
The Organisation of Petroleum Exporting Countries (OPEC) has said that Nigeria generated $206.06bn in revenue from crude oil exports in the last five years.
Oil prices declined on Monday as traders eyed an OPEC technical meeting this week which is expected to recommend an easing in supply cuts that have been propping up crude prices.
Russian Energy Minister, Alexander Novak said on Thursday that the OPEC+ group of oil producers is expected to start easing oil output cuts from August as previously agreed.
There are concerns that the second wave of Covid-19 infections across the world could stall fuel demand recovery, causing oil prices to edge-down.