NIGERIA: THE CRUDE OIL ECONOMY

Synterra the Nigeria Risk Management Consultants provide insight into how the oil markets affect the Nigerian economy. Nigeria's reliance on crude oil receipts is total. At a time of increasing volatility and uncertainty this blog seeks to provide an analysis of the effect the global energy markets have on business in Nigeria, their relationship with OPEC and how local policy decision making affects investment opportunities.
SAUDIS FEEL THE HEAT AS THE U.S. UPS THE PRESSURE ON OIL

SAUDIS FEEL THE HEAT AS THE U.S. UPS THE PRESSURE ON OIL

Saudi Arabia  made what has been described as  a surprise announcement,  it will voluntarily deepen its crude oil output cuts. The announcement stated that this voluntary output cut would take effect from June.

The cut is an additional  1 million barrels per day which will reduce Saudi  production to the lowest level in 18 years. The ostensible reason given by the Saudis is to  hasten  a recovery from the crash in oil price benchmarks which has pitched them  into austerity. According to Energy Minister Abdulaziz bin Salman Al Saud, Saudi Arabia wanted to be ahead of the curve.

TRUMP AGREES PHASE ONE DEAL WITH CHINA BUT NO TEXT YET

TRUMP AGREES PHASE ONE DEAL WITH CHINA BUT NO TEXT YET

The sporadic trade negotiations between the US and China have been paused as President Trump has agreed to a phase one agreement in principle as December 15th looms large. Trump reportedly signed off on a phase one trade deal with China, averting the December 15th deadline which would trigger  another round...

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