Oil price inches toward $53 per barrel

Federal Government Academy Suleja (Center for the Gifted & Talented) 2017/2018 Provisional Admission List is Out! – Click Here for the Full List

WASSCE 2017 for Private Candidates (GCE) – See Timetable Download Past Questions with Answers – Click Here!

THE price of crude oil, yesterday, inched towards $53 dollars a barrel ahead of a U.S. inventory report expected to show crude stocks dropped for a sixth week.

Brent crude, the global benchmark, was up 50 cents at 52.64 dollars, after two days of decline. U.S. West Texas Intermediate (WTI) crude added 44 cents to 49.61 dollars

Analysts expect crude stocks to have fallen by 2.7 million barrels and gasoline by 1.5 million barrels. A further drop in U.S. crude stocks would raise hopes that an OPEC-led effort to wipe out a three-year, price-sapping supply glut is working.

The Organization of the Petroleum Exporting Countries (OPEC), Russia and other producers are cutting output by about 1.8 million barrels per day (bpd) under a deal that took effect on January 1. The deal is currently set to run until March 2018.

Receive BREAKING NEWS Alerts, Subscribe Below


UTME 2017 – Attempt UTME CBT in selected UTME Subjects; Score up to 30 points and win N500 Cash (or airtime) – Click Here to Participate for FREE

Follow Us on FACEBOOK, TWITTER and BBM – D1B511F5 for BREAKING NEWS alerts.

Download e-books for education and research for FREE - Click Here cowbell competition advert Download e-books for education and research for FREE @www.gablibrary.com.ng

Do You Know Nigeria? Attempt 10 simple questions on Nigeria for FREE and Win FREE N500 Airtime – Click Here to Participate!

For your news articles, press release, Breaking News, send e-mail to admin@newsnownigeria.com.ng