The Morning Call
The Coronavirus is putting the world’s economy under severe strain and the consequences are already being seen in oil production.
The benchmark barrel of North Sea Brent crude oil plunged heavily in Asia, losing nearly 25% to $33.29 per barrel.
For experts, this is a loss of nearly 50% since January 1. It’s a concern in oil-producing African countries. Many oil-backed African countries have projected their revenues with an average assumption of $70 a barrel, which does not balance the budget.
On the Business segment of the Morning Call, our Jean David-Mihamle speaks to Secretary General of the Organization of African Petroleum Exporting Countries, Mahaman Gaya on the need for economic diversification within African economies.
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New sanctions from EU and UK target Russia's energy sector and military intelligence
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Drone strikes target oil fields in Iraq’s Kurdish region
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Muhammadu Buhari's legacy: higlight of his presidential tenure
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Kenya: Visa-free travel now available for many African and Caribbean countries
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Paraguayan town celebrates vibrant Kamba Ra'anga festival with masks, fire and tradition
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Chinese city of Xuchang is world's biggest producer of wigs