The current shortage of natural gas and price spikes on the gas markets could be a boon to OPEC, which expects higher demand for other fuels when gas prices are at records for this time of the year in Europe and Asia. Africa’s top oil producer and exporter, Nigeria, sees the soaring gas prices seeping into the oil prices because consumers would be forced to seek fuels alternative to natural gas this winter, Mele Kyari, managing director of the Nigerian National Petroleum Corporation (NNPC), told Bloomberg Television in an interview on Wednesday. Demand for oil could be boosted by as much as 1 million barrels per day (bpd) due to the gas crisis, Kyari, adding that the gas crunch could push oil prices up by around $10 per barrel over the next three to six months. Iraq, OPEC’s second-largest oil producer after Saudi Arabia, also believes that demand for […]