Business

Oil prices not impacted by producers says OPEC

Isaac UmunnaComment(0)

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. NAN

Pix: OPEC Scribe, Mohammed Barkindo

Isaac Umunna

Related Articles
Business

Kwara to establish export processing zone

Isaac Umunna

Gov. Abdulfatah Ahmed of Kwara on Tuesday said his government would soon establish an export processing zone in the state. Ahmed made this known on Tuesday in Ilorin while receiving management of the Bank of Industry (BOI) led by its Managing Director and Chief Executive Officer, Mr Olukayode Pitan. According to him, the processing zone […]
Business

IMF wants Nigeria to do away with Fuel Subsidy

Isaac Umunna

Managing Director, International Monetary Fund, Christine Lagarde, has called on the Federal Government to remove fuel subsidy, saying it is the right thing to do. Thursday at the on-going joint annual spring meetings with the World Bank in Washington DC, the IMF boss said with the low revenue mobilisation that existed in Nigeria in terms […]
Business

Nigeria suspends talks with MTN on huge fine

Isaac Umunna

Nigeria has suspended talks with MTN Group Ltd. about a record $3.9 billion fine on the wireless company indefinitely while the country’s House of Representatives completes an investigation into the size of the penalty and how it was delivered. The lawmakers “have set up a committee to investigate the MTN saga and they are still […]