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IMF Staff Concludes Visit to Nigeria

IMF Staff Concludes Visit to Nigeria

July 13, 2018 No Comments

An International Monetary Fund (IMF) staff team led by Amine Mati, Senior Resident Representative and Mission Chief for Nigeria, visited Nigeria from June 27 to July 9, 2018 to discuss recent economic and financial developments, update macroeconomic projections, and review reform implementation. At the end of the visit, Mr. Mati issued the following statement: “Higher […]

New Oil Cartel Threatening OPEC

New Oil Cartel Threatening OPEC

July 5, 2018 No Comments

When reports emerged that India and China are in talks about forming an oil buyers’ club, OPEC was probably too busy with its upcoming June 22 meeting to concern itself with that dangerous alliance. Now, it may be time for it to start worrying. “The timing is right. The boom in U.S. oil and gas […]

U.S. Fed Is Driving Down Oil Prices

U.S. Fed Is Driving Down Oil Prices

June 20, 2018 No Comments

The U.S. dollar has jumped to its strongest level in nearly a year, raising questions about how a strong greenback could act as a drag on debt and oil demand in much of the world. The U.S. Federal Reserve announced another rate hike a few days ago, which helped edge up the dollar to a […]

IMF Executive Board Concludes 2018 Article IV Consultation with Algeria

IMF Executive Board Concludes 2018 Article IV Consultation with Algeria

June 1, 2018 No Comments

On May 30, 2018, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Algeria. Algeria continues to face important challenges posed by the fall in oil prices four years ago. Despite a sizeable fiscal consolidation in 2017, the fiscal and current account deficits remain large. Real GDP growth slowed […]

Emerging Market Meltdown Could Undermine Oil Rally

Emerging Market Meltdown Could Undermine Oil Rally

May 31, 2018 No Comments

Saudi Arabia and Russia just destroyed the oil price rally, potentially putting an end to all the speculation about what the group might do next. But higher production doesn’t necessarily mean higher oil prices are entirely out of the question, and in fact, the oil market is still faced with a ton of uncertainty. Higher […]

Does Oil Prices really have to be high?

Does Oil Prices really have to be high?

May 22, 2018 No Comments

The benefits of Oil prices rises to corporate entities and oil producing countries seem to undermine the devastating effects on other economies. We have been consistently told that high oil prices promotes technological advances and further exploration for the oil companies as they are able to spend more on on research and development. The recent […]

Did Trump Just Kill The OPEC Deal?

Did Trump Just Kill The OPEC Deal?

May 10, 2018 No Comments

Trump’s decision to kill the Iran deal could put an end to the OPEC agreement. As has been widely discussed in the aftermath of President Trump’s decision to withdraw from the Iran nuclear deal, the return of sanctions on Iran could disrupt oil shipments, with estimates ranging from essentially nothing to as much as 1 […]

IMF Staff Concludes 2018 Article IV Visit to Oman

IMF Staff Concludes 2018 Article IV Visit to Oman

April 19, 2018 No Comments

An International Monetary Fund (IMF) team led by Stéphane Roudet visited Muscat April 3-16 to hold the 2018 Article IV consultation discussions with Oman. At the conclusion of the visit, Mr. Roudet made the following statement: “Non-hydrocarbon economic growth is estimated to have picked up modestly in 2017 to about 2 percent, from 1.5 percent […]

Oil Prices Steady

Oil Prices Steady

March 14, 2018 No Comments

The price of OPEC basket of fourteen crudes stood at $62.15 a barrel on Tuesday, 13 March 2018 compared with $62.53 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon), […]

Sudan and South Sudan

Sudan and South Sudan

March 5, 2018 No Comments

South Sudan gained independence from Sudan in July 2011. Although most of the oil production capacity in those two countries is in South Sudan, the country is landlocked and remains dependent on Sudan’s export pipelines and port. Civil unrest, disagreements over oil revenue sharing, and border disputes have curtailed oil production and investment in both […]

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