On Wednesday, February 4th, an executive from Nigeria's Dangote Refinery stated that after completing planned maintenance, the refinery will commence full-capacity operations (650,000 barrels per day) in February 2026, marking a critical step toward achieving stable year-round operations. PriceSeek's analysis of crude oil, with a bullish-bearish score: 1. The Dangote Refinery plans to begin full-capacity operations (650,000 barrels per day) in February 2026, which will significantly increase crude oil demand and thereby drive up spot crude oil prices. The demand growth stems from enhanced refining activities, potentially leading to tighter supply and benefiting market sentiment. The score is rated as moderately bullish (+1), as the increase in demand, while significant, is not extreme, providing stable support for prices.
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