Can OPEC+ Still Justify Its Deep Output Cuts?

OPEC+ compliance rose sharply in June, helping to tighten up the market. The improved compliance also boosted confidence and cohesion in the group’s collective effort ahead of a possible loosening of the supply curtailments. Perhaps counterintuitively, that increases the odds that the group increases production beginning in August.

Why Oil Price Crashed Below $0 Per Barrel

First of all, there are Different Brands of Crude Oil To start, it is worthy to note that there are different variants of crude oil in the international market with the Brent serving as the benchmark just the same way the United States dollar is the benchmark when converting different currencies of the world. The […]

Turning the COVID-19 Tragedy into an Opportunity for a New Nigeria

By Godwin Emefiele, Governor of the Central Bank of Nigeria. As many people are now aware, the outbreak of the novel coronavirus disease in China has rapidly permeated and profoundly changed the world. While this crisis is first and foremost a public health issue, which has claimed the lives of over 123,600 people worldwide, and […]

Empirical Relationship between the Price of Crude Oil and Nigeria’s Real GDP Growth Rate

Have you wondered by how much Nigeria will grow if oil price remains at this current rate? What is the impact of oil price of between $30 and $40 per barrel on real GDP growth rate of Nigeria in 2020 and going forward?

This article provides answers to that.

Nigeria’s Export Trade is Still Largely Driven by Crude Oil

The aim of this research work is to identify the key drivers of growth in the export category as well as examine the compositions of Nigeria’s imports while explaining the country’s misplaced priority in terms of the production and exportation of certain commodities.

With Saudi Aramco, Oil is not Dead Yet

On Wednesday 11 of December, the World’s largest integrated oil and gas company (and fourth largest integrated refiner in the world) officially listed on the Saudi Stock Exchange after its IPO by selling 1.5% (equivalent to 3 billion shares) of the company’s share capital ($1.7 trillion at valuation) to the public, thereby making it surpass the amount Alibaba raised in 2014 ($25 billion) as it raised a record $25.5 billion- Largest IPO in the history of mankind.

Nigeria Exports N557.66bln Worth of Agricultural Produce in Two Years as it Earns N31.65 trillion from Crude Oil Export During the Same Period

In this article, we will be particularly concerned about the total value of Nigeria’s agricultural export from Q2 2017 to Q2 2019 (Since Nigeria emerged from the 2016 economic recession in Q2 2017), while also looking at the drivers of country’s total agricultural export and the contribution of crude oil to Nigeria’s total export.

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