History’s largest oil glut just months away, says Rystad Energy
The largest oil supply surplus the world has ever seen in a single quarter is about to hit the global market from April, creating an imbalance of around 10mn bpd
Industry
Nigeria bans public service officials from travelling outside the country
Nigeria bans its public service officials from travelling outside the country, stops issuance of visa and restricts from COVID-19 prone countries
‘Uncertainty looms over oil and gas M&A deals landscape amidst coronavirus outbreak’
The recent coronavirus (COVID-19) outbreak is adding further woes for the oil and gas industry, which is already plagued by oversupply and declining prices
Presidential Advisory Council recommends measures to stablise economy
Nigeria’s Presidential Advisory Council had warned that in the midst of the falling price of oil due to the ravaging COVID-19, Nigeria risked sliding into recession
Global oil demand now at 2.8mn bpd: Rystad Energy
Global oil demand will decrease by 2.8 per cent or 2.8mn bpd per day year-on-year as the spread of coronavirus continue to escalate, according to consultant Rystad Energy
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