Tuesday 13th September 2016

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With Non-members Flooding Market, OPEC Predicts Oil Glut in 2017 Ejiofor Alike with agency report The Organisation of Petroleum Exporting Countries (OPEC) has predicted a larger surplus in the oil market in 2017

from non-OPEC members as new fields come on stream, according to the cartel’s monthly Oil Market Report (OMR) published yesterday. Apart from new oil fields coming on stream, the anticipated glut in the

oil market will be further buoyed by the United States shale producers, who have refused to be forced out of the market by the low oil price. The booming output from shale oil fields had

pushed the global market into oversupply in 2014, with prices plummeting from a peak of $115 per barrel in June 2014 to an all-time low of $27 per barrel in January this year. The prices later recovered

to a 2016 peak of $52 per barrel in June before it dropped, hovering around $47 yesterday after it had approached $50 per barrel at the weekend, following a drop in the United States inventory data to nearly a

two-decade low. Prices above the $40 per barrel range would encourage the high cost shale producers to boost output, while a price range below $40 would force Continued on page 8

Military Averts Tragedy in Borno, Kills Female Suicide Bomber… Page 6 Tuesday 13 September, 2016 Vol 21. No 7810. Price: N250

www.thisdaylive.com TR

TODAY'S WEATHER

ABUJA 16°C-33°C

MAIDUGURI 15°C-35°C

UT H

& RE A S O

ENUGU 22°C-34°C

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KANO 11°C-33°C

LAGOS 23C-31°C

PORT HARCOURT 20°C-30°C

Buhari Hits PDP Again: ‘For 16 Years, No Savings, No Power, No Road, No Security’ Says patriotic Nigerians have nothing to fear in war against corruption Promises bumper harvests this year Tobi Soniyi in Abuja President Muhammadu Buhari is obviously not done with the Peoples Democratic Party (PDP) as he hit the party again yesterday,

dismissing its 16 years in the saddle as extremely wasteful and of no moment. ‘‘I want Nigerians to realise that what this government Continued on page 6

INEC Chairman: I Was Never Privy to Security Report on Postponement of Edo Election THISDAY check suggests otherwise APGAcandidate calls for shift in new date Bolaji Adebiyi, Onyebuchi Ezigbo in Abuja and Adibe Emenyonu in Benin City Obviously due to the backlash the postponement, last Saturday, of the Edo State governorship election has generated, the Independent

National Electoral Commission (INEC) yesterday stepped up its denial of any complicity in the security report that led to the abrupt shift in the date of the poll to September 28, 2016. Continued on page 6

Many Displaced as Second Tremor EID-EL-KABIR Senate President, Dr. Bukola Saraki; Governor of Kwara State, Alhaji Abdulfatah Ahmed; and Speaker, Kwara State Hits Kaduna in 24 Hours… Page 8 L-R: House of Assembly, Rt. Hon. Ali Ahmad, during Eid prayers to mark Eid-El-Kabir at the Ilorin prayer ground… yesterday


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