Trending
- How transition finance can catalyse Africa’s green industrial revolution
- Stanbic PMI Report: Mixed performance as Kenya’s agriculture, construction offset manufacturing decline
- Uganda’s land management gets a tech makeover to boost transparency
- Nigeria’s output dips fastest in 19 months on a sharp rise in costs
- Apple faces growing backlash over Congo exploitation
- Why East Africa is staring at higher wheat prices in 2025
- Nairobi Gate SEZ pumps $7 million into Kenya’s agro-processing industry
- What impact will the US election have on Africa?
Browsing: Global oil markets
- The African Energy Chamber predicts that oil markets in 2024 will stay balanced and somewhat flat, with only marginal growth.
- Aviation-driven liquids product demand—primarily from the US and Asia—likely will comprise over 50% of global demand during the next 18 months.
- Another key driver will be industrial demand, particularly from the petrochemical sector in the Middle East, Asia, and the US, along with power generation projects.
Six months after the World Health Organization (WHO) declared COVID-19 is no longer a health emergency, it’s still difficult to fully grasp the far-reaching damage the pandemic has inflicted, from the tremendous toll on lives to economic devastation.
The chaos certainly was felt in the oil industry, which saw record distortions during the pandemic era, especially during its first few months.
As David Gaffen wrote for Reuters in February 2022, “Like much else during the pandemic, what was happening in fuel markets was unprecedented. …