Global central banks unveil bigger spending measures to counter the effects of the coronavirus outbreak – this comes as OPEC and the International Energy Agency warn that developing countries could lose up to 85 per cent of oil and gas income this year. Gbite Oduneye, Co-Founder of Eagle Global Markets joins CNBC Africa to breakdown the impact of the global pandemic on markets.
OPEC agreed to extend production cuts by nine months after several members endorsed the move aimed at supporting oil prices amid a weakening global economy. The deal will take effect once non-OPEC allies give their approval at a meeting scheduled to hold today. Oyeyemi Oke, Oil and Gas Lawyer and Partner at A02 Law joins CNBC Africa to discuss this and other stories impacting the global oil market.