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Sunday, July 5, 2020

Crude Oil Price Analysis for September 4, 2017

Crude oil prices were nearly unchanged buoyed by gasoline supplies which are dwindling due to refinery outages that have curtailed operations in nearly 20% of the U.S. production. The lack of refining capability has weighed on crude oil demand which has seen gasoline margins...

How the oil price collapse will hit revenues of Nigeria, Saudi Arabia and other major exporters

The U.S. West Texas Intermediate (WTI) crude contract for May delivery fell by more than 100% to settle at negative $37.63 per barrel on Monday. Monday’s collapse came as the coronavirus pandemic obliterates global demand, furthering a price shock seen in March. Nigeria, Africa’s largest economy,...

Oil investors show they want more than just profit

LONDON (Bloomberg) -- Big Oil’s investors took a bruising for nearly three years as oil prices bumped along decade lows. Now they want payback. They’re willing to punish companies that don’t meet their standards, and their standards are awfully high. On their wish list: immediate...

Has OPEC Underestimated U.S. Shale Once Again?

The U.S. shale cowboys are back on their horses and leading a strong recovery in the oil patch that is not expected to falter even as WTI prices dropped last week below $50 per barrel for the first time in more than two months. With...

Brent crude could plunge to ‘single-digit lows’ if OPEC+ can’t agree on output cuts, says Fitch

Brent crude futures could plunge to “single-digit lows” if major oil producers fail to reach a deal to cut output, Fitch Solutions said in a Friday report. OPEC and its allies, also known as OPEC+, are expected to meet on Thursday — a delay from...

A green revolution would unleash Africa’s potential by David Pilling

Beatrice Nkatha’s favourite expression is “sorghum is money”. Her ramshackle one-storey wooden store is packed from floor to ceiling with bags of seed, fertiliser and pesticide. Staff attend to customers who peer through a tiny hatch at the front. The cramped store in Mukothima, a...

With OPEC cuts, Oil slump, Libya and Nigeria still on slow recovery path

An oil price rally has already stumbled since the deal, but Nigeria and Libya are not to blame. Output from both nations has slipped since December and violence in the two African states makes their ambitions to hike production look optimistic. When OPEC reached a...

Free fall of Nigeria’s Bonny Light to $5.30 mounts pressure on Budget 2020 review

THE Federal Government has started close monitoring of the global oil market following the free fall in oil prices, including Nigeria’s Bonny Light, which price dropped from $12 to $5.30, Tuesday. The 2020 budget was first benchmarked at $57 per barrel and 2.3 million per...

Why oil could fall to $45

There are two forces at work in the oil market, keeping crude trading in a tight range. Increased shale production weighs on the market even as OPEC shows restraint. But the seasonal factor will have the biggest influence on oil prices until the...

Big Oil Learns to Squeeze Cash From Every Barrel

Industry to increase cash flow to highest in two years Cost cuts help oil majors squeeze more from each barrel   Crude may still be languishing near $50, but Big Oil is on track to rejoin the world’s corporate elite by squeezing more cash from...
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