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 and non-OPEC’s Joint Technical Committee has scheduled a meeting on the 4th and 5th of February in Vienna to assess the impact of China’s new coronavirus on oil demand. As oil continues to trade below $60 a barrel, Kola Karim, Chairman of Shoreline Group joins CNBC Africa to discuss what this means for Nigeria’s economy.
On Saturday, the 34-year-old Kenyan, Eliud Kipchoge become the first human in history to run a sub-two-hour marathon in the city of Vienna, Austria. Kipchoge ran the 42.195km distance in an outstanding time of 1:59 making him the first human to break the two-hour barrier for the marathon. Eliud Kipchoge joins CNBC Africa for more.
Dwindling oil prices, supply glut from U.S crude production amongst others are some of the reasons industry experts believe will lead to a production cut decision at the OPEC meeting which kicks off in Vienna today. Kola Karim, Chairman Shoreline Group joins CNBC Africa to discuss the expectations of today’s OPEC meeting.
Oil prices fell on Thursday morning as traders reacted to comments from OPEC delegates ahead of a widely anticipated extension of the OPEC-led production cut agreement.