Commodities

Mozambican President Visits Uganda at Yoweri Museveni’s Invitation

The Head of State’s visit to the East African country will revitalize the friendly relations…

Nigeria Should End Fuel Subsidy, Speed Reforms, World Bank says

Nigeria needs to end its costly petrol subsidy within the next three-to-six months, improve exchange-rate…

Gold Tumbles Over 1% and Hits Week Lows

Gold starts the week on a slide. The precious metal is down 1.02%, with the…

Gold Depreciates and Silver Falls by Over 1%

Precious metals are depreciating in Thursday’s session, with gold depreciating 0.78% to $1,893.48 per ounce and silver down 1.24% to $27.8220.

Brent Rises to More Than Two Year Highs

The price of crude is trading higher on the international markets after a report on the US oil industry pointed to a reduction in US reserves.

Government Invests in the Promotion of Macadamia to Stimulate the Family Sector

The Government believes that the macadamia nut will be one of the cash crops responsible for leveraging the family sector by increasing its income.

Iran Says It Can Boost Crude Oil Production Up to 6.5 Million Barrels/day

Iranian Oil Minister Biyan Zanganeh said Monday that the country can increase oil production to 6.5 million barrels per day, coinciding with negotiations to suspend US sanctions.

Crude Oil Rises on Positive Demand Outlook

Oil is trading higher on international markets, driven by a more positive outlook for demand, especially in the world’s largest economies.

OPEC’s Combined Production Increases to 25.08 Million Barrels Per Day in April

OPEC’s combined oil production rose to 25.08 million barrels per day in April, up 26,000 from March, thanks mainly to increases in Iran, Saudi Arabia and Nigeria, it was announced today.

IEA Revises Upward Oil Demand Estimates for 2021

The International Energy Agency (IEA) yesterday revised upwards its forecast for global oil demand for this year, in view of better expectations of economic recovery, especially from the United States and China.