Oil markets were fairly stable in early Asian trading on Monday with U.S. crude contracts receiving support from reduced American drilling.

U.S. crude futures were trading at 44.86 dollars per barrel, up 23 cents from their last settlement, pushed by a slight fall in drilling activity.

“Baker Hughes reported U.S. oil rig count fell 10 to 652 last week.

“The consecutive second decline suggests a low price environment coupled with low oil price hedge is starting to impact U.S. supply,” ANZ bank said.

The International Energy Agency said on Friday that a cut in production from non-OPEC suppliers, especially the United States, would lead to rebalancing of the market by next year.

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Hope say buhari go slow down with his seclective probe.Since his fears have been that all the monies with which he would govern have now been stolen.well am expexting a press release from Adesin and shehu sinec their masters promised to stabilised world oil price.