Thursday 2 March 2017



Oil Price Rises as OPEC Sticks to Output Pledges

The Nigerian economy has been handed the needed boost with an increase in the price of oil in the international market.

 
 
Oil reversed earlier losses, yesterday, as investors took heart from strict Organisation of the Petroleum Exporting Countries, OPEC, compliance with its pledge to cut output.
 
OPEC reduced its oil output for a second month in February, a media survey found, showing the exporter group has boosted already strong compliance to around 94 per cent.
 
Heftier cuts by Saudi Arabia and Angola helped offset weaker compliance by other members that agreed to limit their output.
 
May Brent crude futures were last up 27 cents at $56.78 a barrel by 1030 GMT, while US West Texas Intermediate (WTI) futures for April were up 18 cents at $54.19.
 
Oil prices are 23 per cent higher than they were at the end of November, when OPEC announced its deal, but this strength has encouraged more US production to come back online.
 
“There seems … to be a consensus within OPEC that the optimal crude oil price is as near as possible to the upper line of our shale band price range…,” Olivier Jakob, a strategist at consultant Petromatrix said.
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Reliance Training and Management Consulting, a dynamic, fast growing indigenous entity, was established and duly registered with the aim to nurture, develop and innovate people and organisations through customized training, development and management consulting services, with excellent performance, deep sense of commitment, transparency, honesty and responsibility, to demonstrate the highest standard of technical and operational expertise.
 


 
Reliance is competently positioned to provide technical knowledge and skills relevant to practical management and business problems, to stimulate the creativity and innovation necessary to build a better community, a better nation and a better world with a committed mind set to contributing our best to the maximization of personal potentials and skills toward optimizing productivity and achieving organisational goals.
 
for more information click RELIANCE TRAINING AND MANAGEMENT CONSULTING

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