Economy
Long-term Crude Oil Market Looks Increasingly Bleak
By Adedapo Adesanya
Oil prices were rising Monday morning and some analysts see positive signs for the market in the weeks ahead as higher gasoline demand could stop oil’s recent slide. But in the longer-term, the oil market looks increasingly bleak.
From past years, August is traditionally a strong month for the oil market, because high summer demand usually sops up excess supply. Not this year. Demand has been weak and supply has not fallen enough, despite sanctions against Iran that have taken about 2 million barrels of oil production per day off the market—that’s out of about 100 million barrels of global demand.
According to an analyst, Neil Beveridge, in the first seven months of the year, global oil inventories in OECD countries grew by about 100 million barrels, implying an oversupply of about 0.5 million barrels per day. China has been stockpiling crude and Iran has been holding supply in tankers as the countries deal with sanctions. And demand has been hurt by the U.S.-China trade war and weak economies throughout the world.
On Friday, the International Energy Agency reduced its global oil demand expectations, to 1.1 million barrels per day this year and 1.3 million next year, a reduction of 100,000 and 50,000 barrels, respectively, after “very sluggish” growth in the first half of the year.
Oil may not head straight down, however. in the short-term, prices are likely to stop falling, Beveridge predicts.
“With OPEC exports continuing to decline and peak driving season in full swing, we expect sizeable inventory draws in August which should be price supportive in the near term,” he wrote.
And for the moment, short interest isn’t really a problem either. “Given the asymmetry behind the geopolitical backdrop, few market participants are willing to stomach the risk profile of outright shorting the oil market,” RBC Capital Markets analyst Michael Tran wrote. Shorts are staying away because of the risk that an international incident—like in Iran— could cause prices to spike.
But the long-term outlook for oil bulls is bleak. Supply is expected to far outpace demand in 2020. OPEC, which has already cut production to boost prices, will have to decide whether to cut production further to keep prices from falling more next year.
Currently, supply is expected to grow by 2.2 million barrels per day, while demand could rise at just 1.2 million barrels, Beveridge predicts. And that could end up being optimistic.
“A weaker global economy could result in downside risks to this figure,” Beveridge wrote. “This could lead to substantial inventory builds in 2020 which could push oil back to marginal cash cost.”
On Monday, Brent Crude was trading at $58.53 per barrel, the West Texas Intermediate (WTI) Crude was at $54.83, and the Nigerian Crude, Bonny Light was trading at $59.55 per barrel.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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