News

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

PRESS RELEASE COMAC and CBOD Condemn Illegal Diversion of LPG Fund—Strike Action Imminent February 18, 2026 – Accra, Ghana The Chamber of Oil Marketing Companies (COMAC) and the Chamber of Bulk Oil Distributors (CBOD) categorically condemn and are appalled by the alleged unlawful diversion of funds from the LPG Fund to the Ghana Cylinder Manufacturing

Crude and Refined Products Price Review and Outlook     International crude oil prices increased by about 5.19% in the 27th January to 11th February 2026 pricing window, with benchmark prices surpassing USD70/bbl for the first time in seven months. The increase was largely driven by escalating tensions between the Trump’s administration and Iran, following protests in

Crude and Refined Products Price Review and Outlook     The averages of the international market prices of refined petroleum products in the 12th to 26th January 2026 pricing window are the applicable price benchmarks used in pricing petroleum products from 1st to 15th February 2026 in Ghana. International benchmark prices during the period recorded a marked

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