By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
AIT LIVEAIT LIVEAIT LIVE
  • Live TV
  • Politics
  • National News
  • Business
  • Sports
  • Tech
  • Entertainment
  • Global
  • Videos
Font ResizerAa
Font ResizerAa
AIT LIVEAIT LIVE
Search AIT
  • Live TV
  • Politics
  • National News
  • Business
  • Sports
  • Tech
  • Entertainment
  • Global
  • Videos
Follow US

Hope rises for Nigeria as Saudi moves to end oil war with Russia

Last updated: April 2, 2020 6:17 pm
5 years ago
Share
2 Min Read
ait.live-oil

Saudi Arabia has called for an emergency meeting of the Organisation of Petroleum Exporting Countries, OPEC, Russia, and other oil producers to stabilise the oil market, which has been in turmoil since a deal on supply curb collapsed and Riyadh began pumping extra crude into an oversupplied market.

The announcement made by Saudi Arabia on Thursday, which drove oil prices as much as 25% higher on the day, adds to growing signs that Riyadh and Moscow may be ready to end their battle for market share and cooperate again.

U.S. President, Donald Trump, said on Wednesday he had spoken with Saudi and Russian leaders and believed the two countries would make a deal to support prices, which even after Thursday’s spike are less than half their level at the start of 2020 before the Coronavirus crisis took its toll.

Earlier on Thursday, Russian Energy Minister, Alexander Novak, told Reuters it had no plans to crank up its crude output.

OPEC basket oil price used by the cartel to set its production quotas slumped by nearly $2 to $16.19 on Wednesday.

According to Reuters, the basket includes Algeria’s Saharan Blend, Angola’s Girassol, Congo’s Djeno, Equatorial Guinea’s Zafiro, Gabon’s Rabi Light and Iran Heavy as well as Iraq’s Basra Light, Kuwait Export, Libya’s Es Sider, Nigeria’s Bonny Light, Saudi’s Arab Light, the UAE’s Murban and Venezuela’s Merey.

(Editor: Terverr Tyav)

Share This Article
Facebook Twitter Whatsapp Whatsapp Email Print
Leave a comment

Leave a Reply Cancel reply

You must be logged in to post a comment.

RSS APO Group – Africa-Newsroom: latest news releases related to Africa

  • Economic Community of West African States (ECOWAS) women reclaim purpose and power at 2025 international women’s day retreat May 31, 2025
  • United Arab Emirates (UAE) Expresses Solidarity with Nigeria and Conveys Condolences Over Victims of Flood May 31, 2025
  • Breaking News: African Leadership Magazine Announces Winners for the 2025 African Business Leadership Awards (ABLA) May 31, 2025
  • Minister and Tunisian Foreign Minister discuss cooperation May 31, 2025
  • International Monetary Fund (IMF) Staff Conclude Article IV Discussions and Reach Staff-Level Agreement on the Third Review of the Extended Credit Facility for Ethiopia May 30, 2025

Trending

aitlive 9
Breaking: INEC admits glitch in results transmission as Court Reserves Judgement In Atiku’s Petition Against Tinubu, electoral body
2023 Elections Headlines
aitlive 1 19 1
Nigeria Air: MD Confirms Unveiled Aircraft Was Hired Ethiopia Flight
Local
LABOUR PARTY
Breaking: LP And Presidential Candidate, Peter Obi, Get Court Permission To Inspect Forensic Materials
2023 Elections
AIT-IMAGES - US House Republicans
US House Republicans authorize Biden impeachment inquiry
World
PETER OBI
Drama in court as judges order Peter Obi’s legal team to go home
Headlines

Section

  • Headlines
  • Local
  • Business
  • Politics
  • Sports
  • Crime
  • Education
  • Health
  • Entertainment

Programmes

  • Kakaaki
  • Focus Nigeria
  • Democracy Today
  • People Politics and Power
  • News Hour
  • AIT Reports
  • World News
  • Moneyline With Nancy
  • Jigsaw

About Us

  • About AIT
  • Our History
  • Our Awards
  • Our Values
  • Privacy Policy


Follow US
© AIT.LIVE. All Rights Reserved.
Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

THE MOST IMPORTANT NEWS HEADLINE AND EVENT OF THE DAY

Subscribe to our mailing list to receive daily news update direct in your inbox!

Zero spam, Unsubscribe at any time.
Welcome Back!

Sign in to your account

Lost your password?