The federal government has acknowledged a shortfall in projected oil revenue, despite recording improved performance in overall gross revenue generation.

World oil supply will rise more rapidly than expected this year and next as OPEC+ members further increase output and supply ...

Africa's biggest oil refinery will on Friday start direct and free shipping of fuel to retailers in Nigeria, a move expected ...

Oil futures rebounded from two days of selling driven by bearish supply-demand outlooks from the EIA and the IEA, settling higher ahead of Friday's closely watched U.S.-Russia summit. U.S. Natural Gas ...

A global shift in oil market dynamics is raising alarm across the U.S. shale sector, as the Organization of the Petroleum ...

IEA: Global supply is set to surge while demand growth stays weak, with inventories potentially building at nearly 3 million ...

BofA Sees Oil Surplus Growing on OPEC+ Output; Brent Below $60 in 2nd Half — OPIS Bank of America on Thursday said it expected rising production by OPEC and its allied producers would increase the ...

Still, Dubai is relatively stronger than Brent, keeping the price spread between the benchmarks - known as the Exchange of ...

Oil stocks rose today despite a hit to prices on warnings of a supply glut by the end of the year. The price of Brent Crude ...

Oil prices slipped on Wednesday as investors perceived the risk of an industry glut. West Texas Intermediate ( CL=F) futures fell as much as 1.6% to hover above $62 per barrel. Brent crude ( BZ=F ), ...