Oil-exporting cartel OPEC is confident that production cuts agreed with non-members to prop up prices will lead to a recovery in the market, its chief said on Wednesday. "We are optimistic that the...
Economic growth in Saudi Arabia and most other Arab oil exporters will slow this year following production cuts aimed at propping up energy prices, the International Monetary Fund said Tuesday. In...
China is set to import record amounts of crude oil from West Africa this month as OPEC’s supply cuts pave the way for other nations to gain a greater foothold in the fast-growing Asian market. West...
Nigeria's central bank has made moves to strengthen the naira currency to boost domestic manufacturing and lift the economy out of recession caused by the slump in global oil prices. But analysts...
Asian investors moved cautiously Friday following a Wall Street rally inspired by better-than-expected US economic growth data, while South Africa's rand plunged after President Jacob Zuma sacked his...
Wall Street stocks rallied Thursday, shrugging off uncertainty over President Donald Trump's agenda and advancing as US fourth-quarter growth was upgraded and oil prices rose above $50 a barrel....
A lingering illness has led President Muhammadu Buhari to reduce his working day to a few hours since he returned from medical leave, slowing down the pace of economic reforms advanced in his...
Saudi Arabia on Wednesday lost its high-quality credit rating from the Fitch agency, which lowered the kingdom a notch because of worsening public finances as the oil price wobbles. Dropping its...
Venezuela this week arrested four bakers making illegal brownies and other pastries as President Nicolas Maduro's socialist government threatens to take over bakeries in Caracas as part of a new...
Halfway into an OPEC-led oil supply cut, Asia remains awash with fuel in a sign that the group's efforts to rein in a global glut have so far had little effect. The Organization of the Petroleum...
OPEC countries are complying with a landmark deal to reduce a worldwide glut in oil, but global supplies nevertheless increased in February, the International Energy Agency said on Wednesday. "The...
Fuel prices is expected to fall by about 3% later this month. This is according to the Institute for Energy Security (IES). The IES projections comes at the back of drop of Brent crude, gasoline and...
U. S. stocks fell on Tuesday as oil prices dropped to their lowest since November and airlines pulled industrial stocks down as a blizzard hit the U.S. Northeast. Hospital operator shares were hit...
Saudi Arabia is committed to stabilising the global oil market, the energy ministry of the world's biggest oil exporter said on Tuesday, as prices fell below $48 a barrel. OPEC and non-OPEC countries...
Fuel prices will fall by three per cent later in the month on the back of the drop of Brent crude, gasoline and gasoil prices on the world market, the Institute for Energy Security (IES) has...
Sterling dropped on Tuesday after Britain's parliament paved the way for Prime Minister Theresa May to launch divorce talks with the European Union, while stocks advanced ahead of an expected U. S....
Oil hovered around three-month lows on Monday, as rising U. S. inventories and drilling activity offset optimism over OPEC's efforts to restrict crude output. Brent crude LCOc1 was down 7 cents on...
Crude oil resumed a sharp decline and global equity markets rose on Friday after a robust U. S. jobs report drove home the strength of the world's biggest economy and set the stage for the Federal...
OPEC compliance with oil output reductions has exceeded the target because of higher Saudi cuts, Kuwaiti Oil Minister Essam al-Marzouk, head of a committee overseeing the decreases, said Wednesday....
The United States almost tripled the volume of crude oil bought from Nigeria last year, seven years after it began depending less on the country ‘s crude. This comes as the Shale oil production...
