Nigerian oil producers earn $2.4bn on 39.2mb exported in February

Crude oil prices drop, pressured by stronger U.S. dollar

Nigerian oil producers earn $2.4bn on 39.2mb exported in February   Oil producers in Nigeria raked in $2.4304 billion from oil exports into the market controlled by the Organisation of Petroleum Exporting Countries (OPEC) in February, 2021. This came as OPEC declared that the country pumped 39.2 million barrels into the market in the 28 days of February based on 1.4 million barrels daily output. Checks show that the average cost of crude oil in February stood at $62 per barrel. Based on the figure of $62 per barrel and…

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OPEC Outlook: Time to get real?

By Han Tan ___________________ Oil prices remain relatively stable, as investors await OPEC’s World Oil Outlook due later today. It comes at a time when demand-side concerns continue to weigh on prices, while the OPEC+ supply cuts programme is set to be pared back further in January. Such a context has lent itself to both Brent and WTI futures, in September, posting their first monthly losses since April. Brent extended those declines by falling by another 0.7 percent so far in October, struggling to break above its 100-day simple moving…

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