Mele Kyari
The Nigerian National Petroleum Corporation (NNPC) has said that the supply crisis which has negatively affected the global natural gas market and has led to rising prices, could push up oil prices by as much as $10 a barrel over the next 3 to 6 months.
The price of gas has recorded multiple increases recently, surging by over 250% since the start of the year, including a 70% increase. The gas crisis which can be attributed to supply challenges has disrupted food supplies in parts of Europe, putting several energy suppliers out of business, and has seen the price of Liquefied Petroleum Gas (LPG), or cooking gas, increase by over 100% in the last few months.
This was made known by the Group Managing Director of NNPC, Mele Kyari, on Wednesday, while speaking in a monitored conversation on Bloomberg Television, stating the current distortion in the market could lead to an increase in oil prices by at least $10 within the next 3 to 6 months.
The Nigerian National Petroleum Corporation (NNPC) has said that the supply crisis which has negatively affected the global natural gas market and has led to rising prices, could push up oil prices by as much as $10 a barrel over the next 3 to 6 months.
The price of gas has recorded multiple increases recently, surging by over 250% since the start of the year, including a 70% increase. The gas crisis which can be attributed to supply challenges has disrupted food supplies in parts of Europe, putting several energy suppliers out of business, and has seen the price of Liquefied Petroleum Gas (LPG), or cooking gas, increase by over 100% in the last few months.
This was made known by the Group Managing Director of NNPC, Mele Kyari, on Wednesday, while speaking in a monitored conversation on Bloomberg Television, stating the current distortion in the market could lead to an increase in oil prices by at least $10 within the next 3 to 6 months.
