Brent oil falls below $50 as Nigeria ups production

05 July 2016, News Wires – Oil prices retreated in Asia Tuesday, with Brent easing below $50 on news of increased production from Nigeria following the repair of infrastructure damaged in militant attacks. Bloomberg News reported Tuesday that Africa’s biggest oil producer pumped an average 1.53 million barrels a day last month, up around 90,000 a […] More »