Developing countries could see their oil and gas income fall by between 50 percent and 85 per cent this year, that's according to a joint statement by the International Energy Agency and OPEC. The global organizations warned that the coronavirus pandemic could have potentially far-reaching economic and social consequences. Steve Osho, Managing Director at Comercio Partners Capital 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.
The International Energy Agency (IEA) says the mounting signs of an economic slowdown and escalation of the U.S-China trade war have caused global oil demand to grow at its slowest pace since the financial crisis of 2008. To discuss these stories and the implication for Nigeria, Uchenna Minnis, Chief market Analyst at Eagle Global Markets joins CNBC Africa for more.
The 25th edition of Africa Oil Week is under way in Cape Town, where the who's who of the oil and gas industry are congregating to network, share knowledge and make deals. CNBC Africa’s Jill de Villiers spoke to Dr Fatih Birol, the Executive Director of the International Energy Agency.