Bloomberg Vitol Group BV is offering to sell Nigerian crude oil from a storage terminal in South Africa, five traders familiar with the matter said, in what may be a signal that the global supply glut is beginning to ease. The world’s biggest oil merchant has been offering 4 million barrels of Nigeria’s Qua Iboe for delivery to Europe …

  JOHANNESBURG / AP Nigeria wants Royal Dutch Shell to reopen one of its main pipelines but the oil multinational is resisting, analysts say, for fear it could once again be bombed by militants. The Trans Forcados Pipeline, the main feed to the 400,000-barrel-a-day Forcados export terminal, has been shut for all but three weeks of the past year, Lagos-based …

  BEIJING / AP China will raise its defense budget by about 7 percent this year, a government spokeswoman said Saturday, continuing a trend of lowered growth amid a slowing economy despite regional tensions over the South China Sea and other issues. Total defense spending would account for about 1.3 percent of projected gross domestic project in 2017, said Fu …