Tag: blufx nigeria
The Joint Ministerial Monitoring Committee of oil producer club, OPEC will meet virtually today to assess the state of the market. But expert say they do not expect any major decision on crude supply until the two-day meeting scheduled for the 1st of December. Uchenna Minnis, Managing Partner at BluFX Nigeria joins CNBC Africa for more.
Oil producer club, OPEC, says global oil demand is anticipated to decline by 6.4 million barrels per day in the second half of the year compared with a decline of 11.9 million barrels per day in the first half of the year. Uchenna Minnis, Managing Partner at BluFx Nigeria joins CNBC Africa to discuss the trends in the global oil market and what they mean for emerging markets like Nigeria.
Oil market clawed back some gains in anticipation of a N2 trillion U.S economic stimulus which could minimise the economic impact of the coronavirus outbreak and in turn support oil demand although, U.S Congress is yet to agree on the rescue package. For more on the impact of the COVID-19 pandemic on the global oil market, Uchenna Minnis, Managing Partner of Blufx Nigeria joins CNBC Africa for more.
Oil prices are up over 30 cents, supported by an initial trade deal between the United States and China. Meanwhile, the International Energy Agency (IEA) says surging oil production from non-OPEC countries will help the market weather political shocks. Uchenna Minnis, Managing Partner at BluFX Nigeria joins CNBC Africa for more.