oil benchmark

Oil Price Tumbles To Five-Month Low

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The oil price has fallen to a five-month low as investor concerns resurface about a worldwide glut. Brent crude dropped by more than $2 on Thursday to below $49 a barrel, hitting its lowest level since oil cartel Opec struck a landmark deal to cut output on 30 November. Analysts said investors were worried that … Read more

US Increases Imports of Nigerian Crude By 287%

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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 surged. Latest data from the US Energy information Administration (EID) shows that the country imported 76.9 million barrels of the country’s … Read more