Tag: oil price

Oil to recover to $43 by December – UBS analyst

There will be a demand recovery in the third quarter and we will see more people flying than before and production is falling very quickly among OPEC and its allies.

COVID-19: What the oil price crash means for African economies

Yesterday the price of West Texas Intermediate Crude fell below zero for the first time in history, meaning the sellers were ultimately paying buyers to take the oil. The COVID-19 pandemic has cut global oil demand by almost a third, and now it shows in the US oil market, but what does this all mean for Africa? International Relations Expert, Emery Nzirabatinya joins CNBC Africa for more.

Nigeria to delay non-critical spending, defer Eurobond sale

Minister Zainab Ahmed told journalists in Abuja that Africa’s largest economy will prioritize “major capital expenditures.”

South Africa’s rand steady as coronavirus-induced sell-off pauses

As of 0645 GMT, the rand was 0.69% firmer at 16.4500 per dollar, compared with Thursday’s session-low of 16.6150.

Shares in Sasol jump nearly 30% as oil price recovery sparks buying

Shares in South African petrochemicals group Sasol surged nearly 30% on Friday as a recovery in oil prices sparked buying of the stock, which was pummelled in the previous session.

Africa’s largest economy braces for big hit as oil prices plummet

The International Monetary Fund (IMF) on Thursday said it will be working closely with the Nigerian authorities in the coming days to assess any vulnerabilities which may be exposed by the sharp decline in crude prices, as Nigerian and Angolan dollar bonds sank to record lows.

Traders: Oil price drop & second COVID-19 case in Nigeria to scare investors

Plummeting oil prices and a continued surge in global coronavirus cases has caused markets around the world to nosedive today, with Nigeria confirming its second case of COVID-19 in the country. Traders say they expect the movement in the price of Brent crude to guide demand in the bond space. Victor Aluyi joins CNBC Africa to discuss the impact on Nigeria's fixed income and FX Markets.

Global markets tumble on oil price war

Global markets are in the red and the rand tanks on the back of the oil price war between Saudi Arabia and Russia as well as the developments of the Covid-19 virus. Joining CNBC Africa for more is Han Tan, Market Analyst at FXTM and Andre Cilliers, Currency Risk Specialist and Director at TreasuryONE....
Advertisment