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Africa’s oil producers impacted by OPEC production cut

Africa’s oil producing nations have not been spared the impact of the global decision to reduce oil output. About 14 countries in sub-Saharan Africa produce oil, which accounts for most of their annual export income.

Crude oil prices rose marginally on Friday (May 1) as the Organization of Petroleum Exporting Countries (OPEC) and their allies started reducing output.

Major producers in April agreed to a production cut deal by 10 million barrels a day in May and June. The record production cut…
READ MORE : http://www.africanews.com/2020/05/03/africa-s-oil-producers-impacted-by-opec-production-cut

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