Tag: oil price
Oil prices plunged over 26 per cent after a breakdown in talks in Vienna last week as OPEC failed to reach a deal with its allies on production cuts. In the face of an all-out price war, how can Africa's oil producers like Nigeria stay ahead? Kola Karim, Chairman of Shoreline Group and Usoro Essien, Head of Research at Vetiva Capital joins CNBC Africa for more.
Bitcoin, the biggest cryptocurrency by value, fell 10% in 24 hours.
Holly [email protected] POINTS African markets are expected to open lower. London’s FTSE index is seen opening 423 points lower at 6,046, the German DAX down 651 points...
US crude prices drop below $30 a barrel after OPEC deal failure sparks price war, oil-dependent economies left vulnerable
Nigeria’s $34.6 billion Budget for 2020 was benchmarked on an oil price of $57 per barrel. It expected crude oil sales to contribute 35 percent of government revenue. The oil prices' plunge has forced the Nigerian government to review its budget.
The oil market is focused on OPEC’s meeting come Thursday and Friday this week as major producers have moved closer to an agreement to enact deeper output cuts to offset the decline demand attributed to the coronavirus outbreak. Olumide Ibikunle, Senior Analyst at Meristem Securities joins CNBC Africa discuss this and unpack 2019 earnings from some oil companies in Nigeria....
As we kick off the last month of the first quarter of the year, Emmanuel Odiaka, Managing Director and CEO of ECOB Capital joins CNBC Africa to discuss what to expect from Nigeria’s fixed income and forex market in the face of dwindling global yields....
Ahead of OPEC’s meeting this week, oil prices rose by more than four per cent from multi-year lows earlier, as hopes of a deeper cut by the oil producing club and stimulus from Central Banks fuelled the rebound. Rolake Akinkugbe-Filani, Managing Director of Energyinc Advisors joins CNBC Africa me for more.