Tag: Organization of the Petroleum Exporting Countries

Angola agrees to comply fully with oil cuts after OPEC pressure, sources say

DUBAI/ LONDON (Reuters) - Angola has agreed with OPEC to comply fully with a global pact on supply curbs and will compensate for previous overproduction by cutting more from July...

The impact of COVID-19, oil price war on developing countries

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 markets continue slide on COVID-19, oil price war

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.

NSE banking index down 8.9%: A wrap of Nigeria’s FX market

Global markets are in bear territory after oil prices crashed after OPEC’s failure to strike a deal with its allies on production cuts last week caused Saudi Arabia to slash the price of its crude exports. Muktar Mohammed, Analyst at Assar Investments joins CNBC Africa to discuss the impact on Nigeria's equities market.

Oil price crash: How can Africa’s oil producers stay ahead?

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.

OPEC & allies meet as coronavirus hits demand

OPEC and allies will convene in Vienna for a two-day meeting that is crucial to the global oil market in the coming months. Kayode Akindele, Partner at TIA Capital joins CNBC Africa for more.

Oil prices decline to their lowest since 2018, these are the main drivers behind the slide

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.

Amni’s Wale Olafisan on the future of Africa’s oil and gas sector

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.
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