9 h. ago Oil Extends Gains As OPEC+ Halts Output Hikes Beyond December

Oil prices fell to a five-month low of about $60 a barrel on October 20 due to concerns that a glut was building. The post Oil Extends Gains As OPEC+ Halts Output Hikes Beyond December appeared first on Channels Television.

Politics

4 d. ago Shell, TotalEnergies Net Profits Jump Despite Lower Oil Prices

Lower oil prices also hit Spanish group Repsol, which reported a sharp drop in its profits for the first nine months of the year. The post Shell, TotalEnergies Net Profits Jump Despite Lower Oil Prices appeared first on Channels Television.

Economics

4 d. ago World Bank sees 7% drop in global commodity prices as oil glut expands

•Oil oversupply, weak growth to drive price decline •Says fertilizer costs to rise 21% •Warns Nigeria to brace for fiscal shifts Global commodity prices are forecast to fall by seven per cent in both 2025 and 2026, reaching their lowest level in six years as a widening oil glut and sluggish global growth continue to […] The post World Bank sees 7% drop in global commodity prices as oil glut expands appeared first on Tribune Online.

Politics

1 week ago Oil prices surge 5% as US hits Russian firms Rosneft, Lukoil with sanctions

Oil soared after the US announced sanctions on Russia’s biggest oil companies, threatening supplies from one of the world’s top read more Oil prices surge 5% as US hits Russian firms Rosneft, Lukoil with sanctions

Politics

2 w. ago Okomu more than doubles profit in 9 months as revenue surges

Okomu Oil Palm Plc more than doubled its nine-month profit as higher palm oil prices and production volumes lifted revenue, read more Okomu more than doubles profit in 9 months as revenue surges

Politics

3 w. ago Protesters storm Kaduna streets, accuse oil cartel of sabotaging local refining

Tribune Online Protesters storm Kaduna streets, accuse oil cartel of sabotaging local refining They also alleged that the oil cartel was blocking the sale of Liquefied Petroleum Gas (LPG) and Aviation Turbine Kerosene (Jet A1) produced within Nigeria, keeping prices high for consumers. Protesters storm Kaduna streets, accuse oil cartel of sabotaging local refining Tribune Online

Events

last month Global Oil Market Experiences Shock From OPEC Oversupply Plan

The global oil market is experiencing shock from an anticipated supply hike by the Organisation of Petroleum Exporting Countries (OPEC), as oil prices edged lower on Thursday, extending a run of declines into a fourth day, with Brent hitting its lowest since early June due to concerns about oversupply in the market. The OPEC+ could […]

Politics