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COVID-19: OPEC slashes oil production [Business Africa]

Business Africa

OPEC’s decision to cut oil production worldwide is yet another blow for oil-exporting countries. The organization now forecasts a global demand of 0.99 million barrels per day, compared to more than a million.

This slash they say is because of the Coronavirus outbreak in China. The first victim of this downward revision is the aviation sector.

Gabon’s new oil exploitation

Gabon remains resilient despite the COVID-19 crisis.

The country, which undoubtedly does not want to be influenced by the coronavirus outbreak, is in the middle of Tortue phase 2 operation, that will allow the production of larger quantities of oil in the coming years.

At nearly 12,000 barrels of oil per year, it has started operating the offshore field located in the Dussafu.