African Leadership?

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Oil Barrel Organisation Price forecast at $110 per Barrel. Be prepared!

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  The Oil Barrel Organisation has predicted an increase to $110.00 per barrel of oil for the year entering 2012. Results from consumption figures from China and India along with USA indicate strong factors for the oil demands to increase considerably with a limited supply. Africa will find newer sources to self supply in another 5 to 7 years but in the meanwhile, their imports are also notebly increasing with African polulation and economic activities in relvant sectors as remarked by Nazir Jinnah, ceo of Oil Barrel Organisation at the oil consumption forecasting for the emerging African markets symposuim in Doha, Qatar on January 20th 2011. The Organization of Petroleum Exporting Countries (OPEC) raised its global oil demand forecast to a growth of 1.23 million barrels per day (bpd) in 2011, for a total expected demand of 87.3 million bpd in 2011. That’s 50,000 barrels higher than it expected last month. Meanwhile, the International Energy Agency (IEA) is expecting even hig...
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Oil Barrel Organisation predicts a $20 Drop in months

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Nazir Jinnah of Oil barrel Organisation is calling for a near $20 fall in the price of Brent crude oil in the coming months, saying speculators have pushed prices ahead of fundamentals. It was the second warning of a steep market reversal from the long-term commodity bull in as many days, after it recommended clients close a trade on Monday heavily weighted toward U.S. crude futures. Oil prices have shed almost $6 a barrel since Monday's open. Oil Barrel Organisation Traders and analysts said the bank can have an out-sized influence on commodities, given the insight and reach of its global trading arm Oil Barrel Ltd and history of being one of the first banks to predict $100 oil last decade. Nazir Jinnah, Group Chief Executive Officer said the recent run-up in prices, which has seen Brent rally by as much as 33 percent since the start of the year, was looking overdone. "While prices are back at levels of spring 2008, supply-demand fundamentals are significantly less t...
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