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Crude Oil and Refined Products Market Review and Outlook Global crude oil prices fell sharply in 2025 driven by economic and geopolitical factors that affected demand and supply dynamics in the international market. As a result, average crude oil prices declined by about 14% in 2025 from an average of USD81.03/bbl in 2024 to an […]

The Ghana Chamber of Bulk Oil Distributors (CBOD) has released the 2024 Ghana Petroleum Industry Report, its annual flagship publication offering in-depth analysis of Ghana’s upstream and downstream petroleum sectors. The report serves as a key reference for industry players, policymakers, academics, and business leaders, supporting informed decisions on investment, policy, and sector development. The

Crude Oil and Refined Products Market Review and Outlook  Crude oil prices on the global market, on average, declined by about 7.14% in quarter four (Q4) 2025 compared to quarter three (Q3) 2025. The drop has been attributed to the rising global production by both OPEC and non-OPEC countries. According to Reuters, oil surpluses in

The Chamber of Bulk Oil Distributors (CBOD) was pleased to welcome a delegation from the Comité Professionnel des Importateurs des Produits Pétroliers (CPI) of the Democratic Republic of Congo on 24th November 2025 during their professional exchange visit to Ghana. Led by CBOD CEO, Dr. Patrick Ofori, the session provided an overview of Ghana’s downstream

The Chamber of Bulk Oil Distributors (CBOD) is calling on corporate organisations to diversify their Environmental, Social, and Governance (ESG) initiatives to ensure that marginalised and vulnerable groups also benefit meaningfully from social investments across the country. Speaking at the commissioning of a renovated hygiene facility, including 12 washrooms, for the Dzorwulu Special School in

Crude Oil and Refined Products Market Review and Outlook  Crude oil prices on the global market declined by approximately 2.40% during the 12th to 26th November pricing window. This drop occurred despite stronger demand in China and improved market sentiment following the U.S.–China tariff agreement, as concerns about oversupply from both OPEC and non-OPEC producers

Crude Oil and Refined Products Market Review and Outlook Crude oil and refined petroleum product prices recorded notable increases on the international market during the 16th to 30th November 2025 pricing window. The upward trend was largely driven by rising demand from China, the impact of U.S. sanctions on Russia, and positive market sentiment following

At the just-ended OTL Africa Downstream Energy Week 2025 in Lagos, Nigeria, the Chief Executive Officer of the Ghana Chamber of Bulk Oil Distributors (CBOD), Dr. Patrick K. Ofori, delivered a compelling presentation under the session theme “International Energy Trading, Finance & Investment Forum”. Speaking on the broader conference theme, “Energy Sustainability — Growth Beyond

Crude Oil and Refined Products Market Review and Outlook  During the pricing window under review, international crude oil prices declined by about 6.5%, compared to a 2.0% drop in the preceding window. The reduction was primarily driven by increased production levels among both OPEC and non-OPEC countries, including notable output growth from the United States,

Crude Oil and Refined Products Market Review and Outlook During the pricing window under review, the international market price of crude oil declined by about 2.03% compared to the previous window. Increased production from both OPEC and non-OPEC member countries largely drove the price reduction, resulting in a higher supply relative to demand. It has