crude oil

Nigeria's crude oil production rose to 1.56 million barrels per day, its highest level since April 2020. The country exceeded its OPEC quota for the second consecutive month, achieving 104 percent compliance. The milestone has reignited questions about...

Brent crude climbed above $77 per barrel after renewed U.S.-Iran hostilities reignited supply disruption concerns. Iran announced the closure of the Strait of Hormuz, while vessel traffic through the key oil transit route fell sharply. Higher crude prices...

July 13, (THEWILL) — Nigeria’s crude oil production rose to a 74-month high in June 2026, surpassing the Organisation of the Petroleum Exporting Countries’ production quota for the fourth consecutive month as improved operational stability boosted output. Data released...

July 3 (THEWILL) — A forecast by Citigroup that Brent crude could fall to $60 per barrel by the end of 2026 has heightened concerns over Nigeria's fiscal outlook and the sustainability of its budget assumptions. The projection comes as...

June 19 (THEWILL) — Oil prices fell sharply on Thursday, dropping to their lowest levels since the outbreak of the US-Iran conflict as easing geopolitical tensions improved expectations for global crude supply. According to Reuters, Brent crude futures fell by...

June 15, (THEWILL) — Global oil prices plunged sharply on Monday after the United States and Iran reached a historic peace agreement that effectively ended nearly four months of military confrontation, triggering a major selloff in energy markets and...

June 11 (THEWILL) — Nigeria has recorded a significant milestone in its oil industry recovery efforts, with crude oil production rising to 1.53 million barrels per day (mbpd) in May 2026, surpassing the country's production quota allocated by the...

May 26 (THEWILL) — The Dangote Petroleum Refinery has emerged as a strategic lifeline for Nigeria’s economy, with S&P Global Ratings describing the facility as a critical buffer against growing supply disruptions and geopolitical tensions in the Middle East. In...

May 04, (THEWILL) — Despite holding one of Africa’s largest crude oil reserves, Nigeria continues to underperform its production potential, highlighting deep structural weaknesses in the sector, according to recent data from the Organisation of the Petroleum Exporting Countries...

April 21, (THEWILL) — Global oil prices eased on Tuesday, offering cautious optimism to energy markets, as renewed diplomatic engagement between the United States and Iran strengthened expectations of improved crude supply from the Middle East. Brent crude futures...