Tag: global oil market
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 and its allies, OPEC+ agreed to ease production cuts to 7.7 million barrels per day from August until December this year. Dayo Amzat, Managing Director and CEO of Zedcrest Capital joins CNBC Africa to discuss what these decisions mean for the global oil market and emerging economies like Nigeria.
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.
The United Kingdom and the European Union have agreed on a new Brexit deal ahead of the EU Summit in Brussels. U.K Prime Minister Boris Johnson has called on the U.K parliament to approve the deal this Saturday. Meanwhile, news of the deal is limiting losses in oil prices. Uchenna Minnis, Chief Market Analyst at Eagle Global Markets joins CNBC Africa to unpack global oil market movements.
Saturday's attacks on Saudi Arabia's oil facilities led to a 15 per cent spike in Brent crude prices on Monday. To discuss the wider implications for the global oil market, Rolake Akinkugbe-Filani joins CNBC Africa for more.
Brent futures recorded its biggest weekly price decline last week as trade tensions between the U.S and China continue. Edward Voelcker, Independent Advisor on Oil and Gas joins CNBC Africa from London to discuss the dynamics at play in the global oil market.
Rising U.S crude inventories and escalating political tensions between the United States and Iran continue to impact the global oil markets. Uchenna Minnis, Chief Market Analyst at Eagle Global Market joins CNBC Africa to discuss this and review activities in the global oil market.