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Crude and Refined Products Price Review and Outlook     Global crude oil prices declined by 19.73% during the period under review, representing a substantial 39.82% correction from the war-induced peak of USD130/bbl recorded at the height of the US/Israel–Iran conflict. Crude oil prices averaged USD78.12/bbl, approximately 4.96% above pre-conflict levels. The sharp decline was primarily driven […]

Crude and Refined Products Price Review and Outlook     Global crude oil prices have fallen below USD100/bbl for the first time since the conflict involving the United States, Israel, and Iran began in March, following a fragile ceasefire agreement. Prior to the truce, escalating hostilities and retaliatory attacks across the Gulf region pushed crude prices to

Crude and Refined Products Price Review and Outlook     The geopolitical escalations in the Middle East have placed significant pressure on the global energy supply chain, reflecting the sector’s high level of integration and volatility. The region accounts for nearly one-third of global crude oil supply and about 48% of the world’s proven crude reserves. In

Crude and Refined Products Price Review and Outlook     International crude oil prices have begun to surge again following pockets of incidents and attacks between the US and Iran around the Strait of Hormuz, raising concerns over potential supply disruptions in the global oil market. According to Reuters News, “U.S. President Donald Trump said on Monday

Crude and Refined Products Price Review and Outlook     International crude oil prices plummeted significantly by about 12.33% in the period under review, averaging around USD114 per barrel, after surging to nearly USD130 per barrel in the first week of April, the highest level since 2022. The decline was largely driven by improved market sentiment following

Crude and Refined Products Price Review and Outlook     International crude oil prices surged to approximately USD130 per barrel in the first week of April, marking the highest level since 2022. This compares to the peak of about USD133 per barrel recorded in May 2022, following the onset of the Russia-Ukraine War, which significantly disrupted global

The Ghana Chamber of Bulk Oil Distributors (CBOD) participated in the Chamber of Oil Marketing Companies (COMAC) Safety Week 2026, where the Chief Executive Officer, Dr. Patrick K. Ofori, delivered a keynote address at the official launch of the programme. Speaking on the theme, “Managing Risk Before It Becomes an Incident,” Dr. Ofori emphasised that

PRESS RELEASE The Ghana Chamber of Bulk Oil Distributors Urges Caution Amidst Ongoing Petroleum Developments Accra, Ghana – April 08, 2026 – The Chamber of Bulk Oil Distributors has taken note of recent developments involving actions of the office of the Special Prosecutor within the petroleum sector. As the umbrella body representing Bulk Oil Distributors

Crude and Refined Products Price Review and Outlook     The price of crude in the international market has witnessed an unprecedented surge since 28th February, when the US and Israel jointly attacked Iran. Crude prices have since then escalated to their highest in years due to the continual attacks on oil refineries and other storage infrastructure

The Chief Executive Officer of the Ghana Chamber of Bulk Oil Distributors (CBOD), Dr. Patrick K. Ofori, participated as a speaker at the Argus West Africa Oil Forum held in Accra on March 10, 2026, where he delivered a presentation on sustaining the region’s refined petroleum products supply chain. In his presentation, Dr. Ofori highlighted