Oil hits $130 a barrel, highest in 14 years
The rise is good and bad news for Nigeria which relies on crude sales for revenue yet it also imports ...
The rise is good and bad news for Nigeria which relies on crude sales for revenue yet it also imports ...
The NNPC chief targets May and June for oil price to rebound.
The oil price is expected to rise further.
Brent crude futures climbed 58 cents to $52.45 a barrel.
Rise linked to U.S. crude oil stocks falling consistently in recent weeks.
Analyst said the U.S' decision may worsen global glut.
The oil output deal led to a marginal increase in oil prices.
Mr. Utomi says a good budget would have steered the country away from recession.
OPEC expects further contraction of about 740,000 barrels per day this year.
Nigeria's Ibe Kachikwu tried to make parties agree to a cut.
The rise is bolstered as OPEC floated the idea of a production freeze.
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