Tag: International Energy Agency
The International Energy Agency (IEA) said on Thursday that market forces had “demonstrated their power” on the supply side of the oil market in recent weeks, but concerns remain over the potential for a second wave of Covid-19 infections.
The International Energy Agency says the global oil demand declined by 5 per cent in the first quarter of the year. The IEA also says it expects global oil demand to drop by 9 per cent or 9 million barrels per day on average across this year. Uchenna Minnis, Managing Partner at BluFX joins CNBC Africa to discuss this and more.
A plunge in U.S. crude oil prices this week reverberated across global financial markets and fueled renewed worries over the beleaguered shale oil industry. Yet billionaire investor Howard Marks isn’t panicking.
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.
Global central banks unveil bigger spending measures to counter the effects of the coronavirus outbreak – this comes as OPEC and the International Energy Agency warn that developing countries could lose up to 85 per cent of oil and gas income this year. Gbite Oduneye, Co-Founder of Eagle Global Markets joins CNBC Africa to breakdown the impact of the global pandemic on markets.
The International Energy Agency says oil demand is set to fall this quarter for the first time since the financial crisis in 2009 on the back of the coronavirus outbreak in China. Meanwhile, oil producer group, OPEC and its allies have agreed to cut output by 1.7 million barrels per day until the end of March this year to support the market. So how will these dynamics in the oil market impact Africa? Wale Olafisan, Group Managing Director of Amni International Petroleum Company 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.
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