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US Doctors Arrive Nigeria to Provide Free Services

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  • US Doctors Arrive Nigeria to Provide Free Services

A team of doctors from the United States of America will this weekend arrive in the country for a medical mission at Ile Ife, Osun State.

The 20-man collaborative team of physicians, surgeons and medical support staff is made up mostly of alumnus of the Obafemi Awolowo University, formally University of Ife.

Among other things, the week-long activities for the medical mission include free medical clinics at the Ooni’s palace; and a full day of “Campus” clinics, health fair, preventive/public health activities, including screenings for diabetes, hypertension and some communicable diseases.

According to the schedule, while the physicians are running the clinics, there will be simultaneous surgeries at designated centres within the University teaching hospital by the US-based surgeons and their Ife counterparts on cataract patients and laparoscopic procedures using top-notch, state of the art and cutting edge technology equipment brought from the US. According to the team, all surgeries will be conducted for free.

Also members of the team interested in teaching and giving lectures will be provided the opportunity to do so at the university.

The team led by Dr. Olabisi Jagun, who describes her role as “a fortunate one” is sponsored by the Mercysaidno Foundation (an Atlanta-based Nigerian Philanthropic organisation), Ifemed Alumni Association (USA), member physicians, Friends of Ifemed Physicians and Ife Ooye North America Association (IONA).

“Our team is very excited and ready to go, and we are grateful for the wonderful opportunity to give back,” says Jagun.

She explains that “all our physicians and surgeons are brilliant and distinguished in their field of expertise; a few of them are leading world experts; they have all been vetted and their licenses are current.”

It is estimated that during the mission, the team will see between 5,000 to 10,000 patients and hand out over $150,000 worth of free medications and prescriptions.”

Dr. Yemi Ogunbiyi, the Chairman of the Governing Council of the university, who is planning many initiatives for the institution, says the medical mission is a great thing to happen to the university and Ile-Ife city.

“It fills me with joy to see distinguished physicians and surgeons in the United States remember home for this kind gesture. The Council and the entire university are proud of this wonderful support.”

The Obafemi Awolowo University (OAU) is a leading federal government owned and operated Nigerian university at the ancient city of Ile-Ife, Osun State. It was founded in 1961 and classes commenced in October 1962 as the University of Ife by the regional government of Western Nigeria, and was renamed Obafemi Awolowo University on 12 May 1987 in honour of Chief Obafemi Awolowo first premier of the Western Region of Nigeria, whose brainchild the university was.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Crude Oil

Oil Dips Below $62 in New York Though Banks Say Rally Can Extend

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Oil Dips Below $62 in New York Though Banks Say Rally Can Extend

Oil retreated from an earlier rally with investment banks and traders predicting the market can go significantly higher in the months to come.

Futures in New York pared much of an earlier increase to $63 a barrel as the dollar climbed and equities slipped. Bank of America said prices could reach $70 at some point this year, while Socar Trading SA sees global benchmark Brent hitting $80 a barrel before the end of the year as the glut of inventories built up during the Covid-19 pandemic is drained by the summer.

The loss of oil output after the big freeze in the U.S. should help the market firm as much of the world emerges from lockdowns, according to Trafigura Group. Inventory data due later Tuesday from the American Petroleum Institute and more from the Energy Department on Wednesday will shed more light on how the Texas freeze disrupted U.S. oil supply last week.

Oil has surged this year after Saudi Arabia pledged to unilaterally cut 1 million barrels a day in February and March, with Goldman Sachs Group Inc. predicting the rally will accelerate as demand outpaces global supply. Russia and Riyadh, however, will next week once again head into an OPEC+ meeting with differing opinions about adding more crude to the market.

“The freeze in the U.S. has proved supportive as production was cut,” said Hans van Cleef, senior energy economist at ABN Amro. “We still expect that Russia will push for a significant rise in production,” which could soon weigh on prices, he said.

PRICES

  • West Texas Intermediate for April fell 27 cents to $61.43 a barrel at 9:20 a.m. New York time
  • Brent for April settlement fell 8 cents to $65.16

Brent’s prompt timespread firmed in a bullish backwardation structure to the widest in more than a year. The gap rose above $1 a barrel on Tuesday before easing to 87 cents. That compares with 25 cents at the start of the month.

JPMorgan Chase & Co. and oil trader Vitol Group shot down talk of a new oil supercycle, though they said a lack of supply response will keep prices for crude prices firm in the short term.

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Crude Oil

Oil Prices Rise With Storm-hit U.S. Output Set for Slow Return

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Oil Prices Rise With Storm-hit U.S. Output Set for Slow Return

Oil prices rose on Monday as the slow return of U.S. crude output cut by frigid conditions served as a reminder of the tight supply situation, just as demand recovers from the depths of the COVID-19 pandemic.

Brent crude was up $1.38, or 2.2%, at $64.29 per barrel. West Texas Intermediate gained $1.38, or 2.33%, to trade at $60.62 per barrel.

Abnormally cold weather in Texas and the Plains states forced the shutdown of up to 4 million barrels per day (bpd) of crude production along with 21 billion cubic feet of natural gas output, analysts estimated.

Shale oil producers in the region could take at least two weeks to restart the more than 2 million barrels per day (bpd) of crude output affected, sources said, as frozen pipes and power supply interruptions slow their recovery.

“With three-quarters of fracking crews standing down, the likelihood of a fast resumption is low,” ANZ Research said in a note.

For the first time since November, U.S. drilling companies cut the number of oil rigs operating due to the cold and snow enveloping Texas, New Mexico and other energy-producing centres.

OPEC+ oil producers are set to meet on March 4, with sources saying the group is likely to ease curbs on supply after April given a recovery in prices, although any increase in output will likely be modest given lingering uncertainty over the pandemic.

“Saudi Arabia is eager to pursue yet higher prices in order to cover its social break-even expenses at around $80 a barrel while Russia is strongly focused on unwinding current cuts and getting back to normal production,” said SEB chief commodity analyst Bjarne Schieldrop.

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Crude Oil

Crude Oil Rose Above $65 Per Barrel as US Production Drop Due to Texas Weather

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Crude Oil Rose Above $65 Per Barrel as US Production Drop Due to Texas Weather

Oil prices rose to $65.47 per barrel on Thursday as crude oil production dropped in the US due to frigid Texas weather.

The unusual weather has left millions in the dark and forced oil producers to shut down production. According to reports, at least the winter blast has claimed 24 lives.

Brent crude oil gained $2 to $65.47 on Thursday morning before pulling back to $64.62 per barrel around 11:00 am Nigerian time.

U.S. West Texas Intermediate (WTI) crude rose 2.3 percent to settle at $61.74 per barrel.

“This has just sent us to the next level,” said Bob Yawger, director of energy futures at Mizuho in New York. “Crude oil WTI will probably max out somewhere pretty close to $65.65, refinery utilization rate will probably slide to somewhere around 76%,” Yawger said.

However, the report that Saudi Arabia plans to increase production in the coming months weighed on crude oil as it can be seen in the chart below.

Prince Abdulaziz bin Salman, Saudi Arabian Energy Minister, warned that it was too early to declare victory against the COVID-19 virus and that oil producers must remain “extremely cautious”.

“We are in a much better place than we were a year ago, but I must warn, once again, against complacency. The uncertainty is very high, and we have to be extremely cautious,” he told an energy industry event.

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