Friday, September 22, 2017 8:52AM / FDC
Brent crude steadied at $56.32pb as the markets seem to have factored in the possibility of higher compliance rate amongst oil producers. The meeting in Vienna tomorrow is unlikely to produce any surprises.
Fundamentally, there is evidence that the thirst for oil in the wealthy nations of the world is returning gradually to the pre-crude crash levels.
Cashew nut exports increased significantly by 463% to $37m in the Q2. This commodity is proving to become a major non-oil revenue source, next to cocoa.
1. Volatile Oil Prices in August
2. Oil Prices Hovered Around $55pb Ahead of OPEC Meeting
3. Higher Price of Oil Has More Than Compensated for Any Cocoa Shortfalls
4. Oil Price Up to $54.16pb Due to Lower OPEC Production
5. BUA Group Additional Investment Likely to Drive Cement Price Downwards
6. Commodities Market Exports – Brent Crude Traded Bullish in the 2nd Half of August
7. Intermittent Power Supply In Nigeria Has Become An Intractable Problem
8. Nigeria’s Dependence on Imported Sugar will Reduce as Dangote’s $450mn Initiative Takes off
9. Domestic Commodity Prices Remained Flat Despite August Break, Harvest Season & Improved Logistics
10. US Shale Production to Climb to 6.14mbpd
11. Bonny Light Slipped to $50.26pb Following Slowdown in Chinese Refining