Sun Feb 28, 2016/Reuters By Felix Onuah The OPEC cartel needs to take action to stabilise the oil market because crude prices have fallen to “totally unacceptable” levels, Nigerian President Muhammadu Buhari said on Sunday. Nigeria, Africa’s biggest oil producer which earns around 90 percent of its foreign exchange earnings […]
Tag: oil Prices
World Bank Lowers 2016 Forecasts for 37 of 46 Commodity Prices, Including Oil
Click to download Commodity Markets Outlook, January 2016 by the World Bank January 26, 2016/World Bank The World Bank is lowering its 2016 forecast for crude oil prices to $37 per barrel in its latest Commodity Markets Outlook report from $51 per barrel in its October projections. The lower forecast […]
Oil Prices Will Not Go Below $20 Per Barrel-Kachikwu
(Being Excerpts of interview conducted by CNN’s John Defterios with Emmanuel Ibe Kachikwu, Nigerian Oil Minister and OPEC President at the 7th Gulf Intelligence UAE Energy Forum in Abu Dhabi on Wednesday January 13, 2016) Q: What are your thoughts on the continued slide in oil prices? A: I don’t […]
