Oil prices jumped on Monday as geopolitical tensions in Eastern Europe and the Middle East heightened concerns about an already tight supply outlook, while OPEC and its allies continued to struggle to raise their output. Brent crude futures rose 87 cents, or 1.0%, to $88.76 a barrel by 0100 GMT, reversing a 0.6% loss on Friday. U.S. West Texas Intermediate (WTI) crude futures gained 86 cents, or 1.0%, to $86.00 a barrel, having fallen 0.5% on Friday. Both crude benchmarks rose for a fifth week in a row last week, gaining around 2% to hit their highest since October 2014.…

The question is, which habits are profitable? All of us are creatures of habit. We often do something because, well, it's just something we do. Routines go unquestioned because that's the benefit of routines--they come easily and don't require much thought. We know which ones are good for us, like regular exercise and good sleep. We know which aren't so good for us, like unmanaged stress or smoking. But the nature of habits, good or bad, is that they're hard to break. Just like people, companies have habits. You can think of a couple right now that keep your company…

Central Bank of Nigeria (CBN) yesterday said effective February 1, 2022, all import and export operations would require the submission of an electronic invoice (e-invoice) authenticated by Authorised Dealer Banks (ADBs) on the Nigeria Single Window Price Portal – Trade Monitoring System (TRMS). The apex bank noted that the introduction of the e-valuator and e-Invoice would replace hard copy final invoice as part of the documentation required for all import and export transactions going forward. CBN disclosed this in a circular titled:” Guidelines on the Introduction of E-Evaluator, E-Invoicing for Import and Export in Nigeria “, signed by CBN Director,…

OPEC+ compliance with oil production cuts rose to about 122% in December, two sources from the producer group told Reuters, indicating that some members continue to struggle to raise their output. The December figure compares with 117% in November. International Energy Agency said this week that the group missed its production targets by 790,000 barrels per day (bpd) in December as members like African producers Nigeria and Angola struggled to raise output. Compliance from members of the Organization of the Petroleum Exporting Countries (OPEC) was at 127% in December, while non-OPEC producers in the alliance achieved a compliance of 114%,…