Posts tagged as: Oil prices

  • Blog post

    Why COVID-19 offers the perfect opportunity to remove fuel subsidies

    April 2020 recorded the lowest oil price (USD 21/barrel of oil) in 18 years. This was driven by a lack of demand due to low economic activity worldwide. This temporary season of low oil prices presents an opportune moment for countries to remove inefficient fuel subsidies and reduce the knock-on effect to citizens. This reform also provides developing country governments...

    3 Aug 2020 | Joevas Asare

  • Blog post

    World Environment Day: Championing clean energy post COVID-19

    Combating climate change and ensuring clean air for all is an interdependent effort. As developing country governments electrify their populations, renewable energy offers a range of clean ways of doing so. The recent plunge in energy demand and oil prices, which threatens to reverse recent gains in renewables, should not act as a barrier to transitions towards clean energy...

    5 Jun 2020 | Joevas Asare

  • Blog post

    When a failure to diversify meets COVID-19: Implications for Nigeria

    Africa’s most populous nation faces a greater challenge than most from COVID-19 with its government revenues decimated following the crash in oil prices. As Africa’s largest economy with a population of close to 200 million, Nigeria is critical to the COVID-19 response in the region. One in five sub-Saharan Africans are Nigerians and the economic and social impacts of...

    20 Apr 2020 | Camron Aref-Adib