Culled—Proshare April 9, 2020 By NOVA Merchant Bank In our recent assessment of the revised budget benchmark oil price and cut to expenditure by the Minister of Finance (Published 27 March, see report: Fiscal Position Getting Critical), we concluded that for the FG to finance a large chunk of the […]
OPINION/EDITORIAL
Bump In Oil Price Ahead of OPEC Meeting Pushes Further Bullish Sentiments Across Markets
Culled—Proshare April 9, 2020 By Zedcrest Capital FGN Bonds Yields continued to plummet in today’s session, with consistent demand seen from local investors across the bond curve. Demand was most skewed to the belly of the curve, with the 2027s maturity the most traded as demand swallowed the improved offers […]
Fall Out of OPECplus Coalition Pushed Oil Prices Lower to $31.92 per barrel in March 2020
Culled—Proshare April 9, 2020 By NOVA Merchant Bank Key Highlights Fall out of OPEC+ coalition pushed oil prices lower to $31.92/barrel in March, with Q1 20 averaging $50.47/barrel. In March standalone, consumption was at an historic low of 89.4mbpd compared to February level of 95.7mbpd. As a result, the […]
