crude oil

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...

April 16, (THEWILL) — Nigerian crude grades rebounded in Asian trading on Thursday, recovering from earlier losses and trading at a notable premium over global benchmark Brent, supported by stronger-than-expected economic data from China. Brass River, a key Nigerian...

April 14, (THEWILL) — Nigeria’s crude oil production remained below its quota set by the Organisation of the Petroleum Exporting Countries (OPEC), extending a streak of underperformance to eight consecutive months. According to OPEC’s April Monthly Oil Market Report, the...

March 31, (THEWILL) — Nigeria could benefit from rising global oil prices in the week ahead, although geopolitical tensions and mixed signals from global policymakers may introduce fresh volatility into financial markets. This outlook was shared by Lukman Otunuga, the...

March 11, (THEWILL) — The International Energy Agency (IEA) has approved the release of 400 million barrels of oil from emergency reserves of its 32 member countries, a historic move aimed at stabilizing global markets disrupted by the ongoing...