The Chief Executive Officer (CEO) of the Chamber of Oil Marketing Companies, Dr. Riverson Oppong, has asserted that no African leader can control global oil benchmark prices.
Speaking on GHONEtv on Tuesday, March 17, 2026, he emphasised that politicians should refrain from politicising the impact of the Iran and US war.
“We must be realistic; these are functions over which we have no control. No Mahama, no Akufo-Addo, nobody can influence crude oil prices directly.
“However, we could at least address our foreign exchange situation as a country; let’s not politicise these challenges,” Dr. Riverson emphasised.
He reiterated that no individual, including any African president, has sway over international benchmark prices.
He cited Muammar Gaddafi as the only African leader who attempted to exert influence, adding, “we all know what happened to him.”
Dr. Oppong expressed his disdain for the ongoing tensions, referencing past conflicts.
“I have hated this issue since the turmoil of 2008, through the upheavals of 2014 and 2016. Prices fluctuate constantly; we faced turmoil in 2020 and the consequences of the Russian-Ukrainian war,” he said.
His remarks serve as a reminder of the limitations faced by leaders in influencing global economic factors, urging a focus on domestic issues instead.
Source: Christabel Opare
