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Oil Falls Further as Excess Supply Knocks Sentiment

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Oil prices slipped further on Friday as swelling inventories depressed sentiment despite widespread expectations that Opec and Russia would agree some form of production cut next week.



Both international oil benchmarks, North Sea Brent and US light crude, have had their weakest month for more than 10 years in November, losing more than 20% as global supply has outstripped demand.

Brent was down 55c at $58.96 a barrel by 10.15am GMT, while US crude was down 75c at $50.70. Both contracts have made small gains this week, their first weekly rise in almost two months.

Surging oil production in the US, Russia and by members of the Middle East-dominated Opec countries has helped fill global inventories and create a glut in some markets.

A slowdown in oil demand growth is compounding the emerging oversupply.

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“Near-term oversupply has gutted Brent prices,” said Jason Gammel, analyst at US investment bank Jefferies, adding that there was “an increasing urgency to move crude into storage”.

This move is visible in the Brent forward price curve, which now has prices for future delivery above those for immediate dispatch, a structure known as “contango”, which can make it attractive to put oil into storage for later sale.

To rein in the glut, Opec and its main partner Russia are discussing supply cuts and are due to meet in Vienna on December 6 and 7 to agree on a production strategy.

“The next Opec meeting is going to prove a pivotal moment for the direction of oil prices in 2019,” BNP Paribas strategist Harry Tchilinguirian told Reuters Global Oil Forum.

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“A decision will have to be made against a background of strong US shale oil supply growth, and for now, weaker expectations on global oil demand growth.”

Before the Opec meeting, the world’s top three producers — the US, Russia and Saudi Arabia — will be part of a meeting this weekend of the Group of 20 industrialised nations in Buenos Aires, Argentina.

Oil inventories are rising fast in the US, where commercial crude stocks rose by 3.6-million barrels in the week to November 23 to 450.49-million barrels, according to the Energy Information Administration (EIA).

US crude production is at a record high of 11.7-million barrels a day.

Crude reserves increased 6.4-billion barrels, or 19.5%, to 39.2-billion barrels at the end of 2017, marginally higher than the previous record of 39-billion barrels set in 1970, the EIA said.

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-Reuters

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Concealed fake dollar worth $20m found by Kenyan police.

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The Criminal Investigation body in Kenya has disclosed that they have five personnel in custody following to the fake dollar worth  $20m (£15m).



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Two source familiar with the situation states that, the fake dollars was found in Barclays Bank, Nairobi. alleged to be owned by an investor, although further investigation is still on progress.

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Top 10 Digital Marketing Agencies For Small Businesses In Nigeria

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With the fresh burst of small businesses in Nigeria, it is worthy of not to discover those agencies that are best suited to bring your campaign to life for the best price too while still maintaining the desired quality.

This bouquet involves online adverts, SEO, website designs, native advertising, social media advertising, email advertising to mention just a few. This 2019, here are some digital marketing agencies you need to be looking at in no particular order of relevance.

 

1. Brand Envoy Africa (Digital Marketing Agency).

Brand Envoy Africa is a digital marketing and brand management agency. They offer services such as marketing consultation, digital marketing, product activation events, social media management services, placing adverts on newspapers, website design and email marketing services. BE aids businesses in reaching more customers and increase sales using digital, traditional and social media channels.

Services offered by this digital agency include; Digital Marketing, Social Media Marketing, Search Engine Optimization, Email campaigns, Website Design, Print/newspaper Advert Placement, Product Activation Events, Social Media Handle Management and Product Design.

2. De Swamp Formula (Creative Agency)

De Swamp Formula is a full-suite African marketing and interactive agency that also handle digital briefs.
They were founded in 2009 and their creativity has helped many small businesses position themselves to compete with sector big-wigs. One thing that stands out with this company is their style of communication which could be narrowed to down to great copywriting skills.

They have worked with a lot of emerging businesses across Africa as well as helped a lot of big brands achieve more market share. They have cross sector experience which is obvious in the range of companies they have worked with.

Their core services are Creative Marketing Communication, Out-Of-Home Advertising, Website Designing,  Building Platforms for Governmental Organisations and Creative Designs.

 

3. Anakle (Marketing Agency)

Anakle is a digital agency, building experiences for online and offline audiences. Services offered by Anakle include Digital Marketing, Social Media, Digital Strategy, Web/Mobile App Development & UX Design.

The team at Anakle specializes in developing strategy and executes campaigns for clients and agencies. The technology team has executed application development and user experience optimization projects for top brands across Africa.

 

4. CKDigital (Creative Agency).

CKDigital is a digital creative agency on a mission to help businesses succeed through exceptional digital services, focused on results.

CKDigital is made up of a team of professionals passionate about what they do with a culture of excellence. CKDigital works with brands of different sizes – multinationals, SMEs, and start-ups.

5. Cregital (Creative Agency)

Creative Digital Agency based in Lagos Nigeria. Cregital helps brands and businesses make digital and smart impressions.

Cregital reduces the bureaucracy found at traditional agencies by working closely with clients to understand their business objectives and help them grow within their budget.

6. Dodo (Design Agency)

DODO is a creative agency that helps businesses stand out in the market. Through human-centered processes, this design agency helps brands build unique experiences for customers.

Services offered by DODO includes – Brand Strategy and Identity Design, Print and Packaging Design, Website Design (UX and UI Design), Customer Experience Design, Digital Marketing, Customer Research, and Data Visualization.

7. Ellae Creative (Creative Agency)

Ellae is an energetic and talented creative agency based in Lagos, Nigeria. The agency blends intelligent creativity with a sincere collaborative approach, consistently delivering powerful results through brand, communication, creative and other digital channels for clients.

At the heart of Ellae is a team of creative and strategic professionals, all sharing in the same creative passion, philosophy, and firm belief in the power of great ideas.

8. Amplify (Marketing Agency)

Amplify is a digital agency that is bridging that gap between Marketing and Technology by creating solutions that help businesses fully reach their targeted audience.

The team at Amplify is made up of digital marketers, technology enthusiasts, designers, social community managers and innovative and creative change-makers using technology to create more memorable digital experiences for brands across the African continent.

9. Bytesize (Marketing Agency)

Bytesize is a full-service digital communications agency in Nigeria that combines consumer research, creativity, and insight to transform your business.

The digital marketing agency is specialised in delivering precise strategic thinking and digital marketing direction that can turn your rapidly concept from vision to reality.

10. Wild Fusion (Marketing Agency)

Wild Fusion is the leading digital marketing agency in Nigeria. It is the first certified partner of Google Adwords in Nigeria and has its offices based in several places in Africa, including Accra, Lagos, and Nairobi.

They are dedicated to offering a wide array of marketing services which include Brand Strategy, Media Services, Content Production, Social Media Marketing, PPC Advertising, Digital Marketing Strategy, Mobile Marketing, Creative Development, Web Analytics, SEO, Customer insights and Training.

NOW WE BROUGHT THEM TO YOU, YOU SHOULD KNOW…

that getting an agency that could deliver on that brief with apt concentration is a tough task because agencies who have a bigger, more prominent clientelle base will usually handle jobs for little clients with a little less more concentration and attention to detail (not always the case though).

 

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