In fact, April 2020 could see a drop in oil demand by more than 30 million barrels a day. Now add an oil price war that has had Saudi Arabia and Russia increasing oil production and battling for market share since March 8, and you have a perfect storm. Plus, Africa’s rich resources still represent opportunity, including a wealth of natural gas waiting to be discovered. In contrast, I believe that it’s possible to make a profit selling African oil for $25 to $30. The continent is truly one of the last promising regions for both offshore and onshore oil production.

Source: The North Africa Journal April 15, 2020 07:41 UTC