about 400,000 barrels per day, bpd, shortfall against the 1.88 mbpd, output benchmark in the 2022 budget.
Brent crude futures for September had fallen US$1.81 to US$105.29 a barrel by 0633 GMT, while U.S. West Texas Intermediate crude for August delivery was at US$102.14 a barrel
The narrative that the world will be able to quickly and effectively move away from fossil fuels has been majorly undermined this year.
The world consumes approximately 100 million barrels of crude oil per day or 36.5 billion barrels per annum
Oil prices dropped eight per cent yesterday falling back below $100 per barrel for the first time since May as some experts warn that prices could fall to as low as $60 per barrel by the end of the year if an economic downturn significantly curtails demand.
Oil prices were steady on Thursday after steep losses in the previous two sessions, as investors returned their focus to tight supply even as fears of a global recession persisted.
Bubune Sorkpor has extensive experience working in investment teams covering North America, Mauritius and Ghana. He is expected to lead investment strategy at MIIF
Russian state gas giant Gazprom has already cut gas flows to Germany via the key Nord Stream 1 pipeline by 60% from last month, citing an equipment hold-up in Canada as a result of sanctions over the war in Ukraine.
The East African Crude Oil Pipeline (EACOP) represents a critical solution to making energy poverty history in Africa by 2030
Petrol XP is their registered name with Petro XP as their trade name, and documents available to TOR conform with documentation at the National Petroleum Authority (NPA