The Oil Marketing Companies Association of Zambia anticipates that the change of government in the United States of America will have a positive impact on the oil stock market with a 20 percent reduction.
Association president Kafula Mubanga is of the view that President Donald Trump’s second term in office could reduce the downward pressure on oil leading to an average of $60 per barrel towards 2025 from $75 per barrel.
Dr Kafula tells Phoenix News that this development will help to bring down the cost of production locally by 5 to 10 percent, helping the economy to expand as it has faced challenges due to escalating oil prices.
He is confident that the sector will experience some relief with oil supply and stable prices.
And Energy Expert Leonard Sepe explains that being one of the larger consumers of oil products, Africa will benefit from the oil policies by the trump administration.
UNITED MINERS UNION OF ZAMBIA URGES GOVT TO STATE WHEN IMPENDING $5 BILLION CHINESE INVESTMENT IN ZAMBIA’S MINING SECTOR WILL BE ACTUALIZED
The United Miners Union of Zambia-UMUZ- says it is crucial for government to state when the...
0 Comments