THE price of Nigeria’s Bonny Light crude oil fell by 10.6 per cent to $73.53 per barrel from $84.02 per barrel on January 15th, fuelling fears over achievement of the Federal Government’s 2025 budget revenue target. The Budget 2025 is based on a crude oil price benchmark of $75 per barrel, oil production of 2.06 million barrels per day (bpd), …

Oil prices were on the rise on Monday following Saudi Arabia’s announcement that it would cut its oil output by one million barrels a day in July. The price of a barrel (159 litres) of North Sea Brent for delivery in August stood at 77.03 US dollars on Monday morning, 90 cents more than on Friday. The price of a …