global oil benchmark | Egypt Oil & Gas

India, US Reduce Nigerian Crude Imports

Both India and the US have reduced their Nigerian crude oil imports by 43% and 53% respectively, a call that translated to a minimum loss of $270m of earnings in the Nigerian economy.

Oil Prices Surge Temporarily as Saudi-Iranian Tensions Mount

Oil prices rose by more than 3% today in response to the crisis brewing between Iran and Saudi Arabia following the Saudi execution of a prominent Shiite cleric, Sheikh Nimr Baqir al-Nimr.

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