External broker reports(aggregated public sources), CardinalStone

CardinalStone

CardinalStone is an independent, multi-asset investment management firm offering an assortment of financial services to a diverse institutional, high net worth and retail clientele base. The company began operations in June 2008 and its business is conducted across six divisions – Investment Banking, Asset Management, Securities Trading, Trust Services, Registrar Services and Financing.

Headquartered in Lagos with offices in Abuja, Nigeria, the firm and its licensed subsidiaries diligently works with its clients to create bespoke solutions for their needs.

External broker reports(aggregated public sources)

CardinalStone is an independent, multi-asset investment management firm offering an assortment of financial services to a diverse institutional, high net worth and retail clientele base. The company began operations in June 2008 and its business is conducted across six divisions – Investment Banking, Asset Management, Securities Trading, Trust Services, Registrar Services and Financing. Headquartered in Lagos with offices in Abuja, Nigeria, the firm and its licensed subsidiaries diligently works with its clients to create bespoke solutions for their needs.

Macroeconomics

<ul><li>The global oil market is expected to remain under pressure in the near term, with OPEC+'s ongoing production ramp-up.</li><li>As of September 2025, the group had fully reversed its initial tranche of voluntary production cuts to the tune of 2.5 million barrels per day (mbpd) in a bid to regain its market share.</li><li>This reversal is likely to result in an oversupplied market in 2025 and 2026.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

The global oil market is expected to remain under pressure in the near term, with OPEC+'s ongoing production ramp-up.As of September 2025, the group had fully reversed its initial tranche of voluntary production cuts to the tune of 2.5 million barrels per day (mbpd) in a bid to regain its market share.This reversal is likely to result in an oversupplied market in 2025 and 2026.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Sector Update - Oil & Gas - Energy Outlook: Global Headwinds, Local Tailwinds