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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

On March 3, 2026, the Chamber of Bulk Oil Distributors (CBOD) paid a courtesy visit to the Chamber of Oil Marketing Companies (COMAC) as part of ongoing efforts to deepen industry engagement and strengthen collaboration within Ghana’s downstream petroleum sector. The CBOD delegation was led by its Chief Executive Officer, Dr. Patrick K. Ofori, and

Crude and Refined Products Price Review and Outlook     International prices of crude oil have surged significantly due to the ongoing US/Israel-Iran war in the Middle East, despite the decision by the International Energy Agency (IEA) and the G7 countries to release a record volume of oil stockpiles to help mitigate potential supply disruptions. Crude oil

  PRESS RELEASE CBOD’s Response to Claims of Petroleum Product Hoarding Accra, Ghana – March 9, 2026 – The Chamber of Bulk Oil Distributors (CBOD) has taken note of reports of Bulk Import, Distribution and Export Companies (BIDECs) hoarding fuel in anticipation of an increase in prices at the next pricing window, which commences on

Crude and Refined Products Price Review and Outlook     International crude oil prices are higher by about 15.66% since January, with benchmark prices surpassing USD70/bbl for the first time in seven months. Crude oil prices at the global market rose significantly from USD61.74/bbl in January 2026 to an average of USD71.41 in the current window. This