Oil tanker. Picture: REUTERS/JEAN-PAUL PELISSSIER
Oil tanker. Picture: REUTERS/JEAN-PAUL PELISSSIER

Oil had a roller-coaster ride in 2017, with prices declining sharply the first five months and a rally during the past four. Prices are now hovering at almost three-year highs on support from the Opec production cuts and the recent surprise drop in US production.

The market is expected to become more balanced this year but with geopolitical risks such protests in Iran it is not clear what lies ahead.

Dolapo Oni, vice-president and head of energy research at Ecobank, spoke to Business Day TV about the oil market and whether it is overheating.

 

Dolapo Oni, vice-president and head of energy research at Ecobank, talks to Business Day TV about whether the oil market is overheating

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