Featured Gas Oil

Factors beyond producers’ control are impacting oil market – OPEC

By Thompson ABISOLA

OPEC Secretary-General, Mohammad Barkindo, said on Thursday that there are many non-fundamental factors influencing the oil market that are beyond oil producers’ control.

Barkindo, speaking at the Oil and Money conference in London, also said he wanted to ensure there is no shortage of crude in the market.

Oil prices have rallied this year on expectations that U.S. sanctions on Iran will strain supplies by lowering shipments from OPEC’s third-largest oil producer.

Brent crude last week reached $86.74, the highest since 2014.

Related posts

World Bank cuts Sub-Saharan Africa growth forecast to 2.8%

Editor

Criticisms trail Olamide, Lil Kesh latest single ‘Lego Benz’

Editor

Dana Air takes delivery of aircraft from maintenance, introduces N45,000 flash sale

Editor

Smuggling: Customs decry communities’ dwindling collaboration

AbisolaTHOMPSON

Petrol scarcity bites harder

Our Reporter

Oil workers back calls for service chiefs sacking

Our Reporter