Understanding global oil supply dynamics
18 September 2018 |
5:35 am
OPEC and its allies are still searching for a consensus on how to equitably distribute the extra barrels they intend to pump. Kola Karim, Chairman of Shoreline Group joins CNBC Africa to discuss what to expect.
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24 Jun 2018
Oil Ministers from Iran, Russia and the UAE gathered in Vienna for the OPEC+ meeting react to U.S. President Donald Trump’s tweet on Friday. Trump said on Twitter: “Hope OPEC will increase output substantially. Need to keep prices down!”
25 Jun 2018
Russian Energy Minister Alexander Novak told Bloomberg Television on Saturday that OPEC+ production hike will be close to one million barrels per day, echoing the Saudi view.
2 Jul 2018
President Trump has accused OPEC of manipulating prices. His comments came after he caused confusion over whether or not Saudi Arabia is going to increase crude output by the maximum amount possible.
30 Oct 2018
Nigerian Minister of State for Petroleum Emmanuel Ibe Kachikwu discusses global oil market demand, Nigerian corruption, and the impact of shale oil on OPEC production.
8 Nov 2018
The stormy oil market could have OPEC about to perform another production U-turn. The cartel has signaled it will consider a return to cutting output in 2019. With prices falling in the face of a shale surge, OPEC will discuss a change of course in Abu Dhabi this weekend.
3 Dec 2018
The Gulf nation of Qatar's new energy minister said that his country will leave OPEC effective January of 2019. He said that he had informed OPEC of his decision ahead of his announcement.
8 Dec 2018
Donald Trump wants Riyadh to keep pumping oil to keep global prices low, a tactic that pleases his blue-collar base at home. But the Saudis may balk at opposing other OPEC members ahead of a key meeting of the cartel.
6 Dec 2018
President Donald Trump's call for OPEC to keep oil flows unrestricted drew criticism from Saudi Arabia. The oil cartel convened in Vienna to discuss cutting output, in a bid to bring prices back from a two month slump.
8 Dec 2018
Nigerian Minister of State for Petroleum Resources Emmanuel Kachikwu discusses the agreement by OPEC+ to cut production by 1.2 million barrels per day with Bloomberg's Marcus Cranny on "Bloomberg Markets: European Close."
3 Jan 2019
OPEC's production plunged by the most in almost two years in December, even before the deal to cut oil supplies started. Output fell 530,000 barrels a day to 32.6 million.
14 Mar 2019
Data from the Energy Information Administration showed that the United States cut its imports of Nigerian crude oil by 43 per cent in 2018. Meanwhile, oil prices continue to inch higher by healthy demand and output cuts led by producer group OPEC.
7 Jul 2019
OPEC agreed to extend production cuts by nine months after several members endorsed the move aimed at supporting oil prices amid a weakening global economy. The deal will take effect once non-OPEC allies give their approval at a meeting scheduled to hold today. Oyeyemi Oke, Oil and Gas Lawyer and Partner at A02 Law joins CNBC Africa to discuss this and other stories impacting the global oil market.
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