Oil prices dipped on Tuesday, paring some gains from the previous session, as the market feared that more aggressive interest rates hikes from central banks may lead to a global economic slowdown and soften fuel demand.
Tesla CEO and world’s richest person Elon Musk on Monday backed additional efforts to drill for natural gas and oil in the short term, in line with his recent change in tune on the use of non-renewable sources like fossil fuels and nuclear energy.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says 17 marginal oil fields are currently producing out of 30 fields awarded since its inception in 1999.