- Global crude is now approaching the $60 mark, its sharpest weekly fall since March due to weakening demand and rising supply
- US output and inventories are climbing, fuelling expectations of a market glut by 2026
- Broader geopolitical tensions and trade pressures are feeding investor caution
- African oil exporters such as Nigeria, Angola and Libya face tighter budgets and reserve pressure as earnings shrink
- Oil-importing African countries gain cost relief, but the benefit is limited by a stronger US dollar
- Lower revenues are also increasing currency instability across several African markets
