Oil plunges as worries over demand outweigh tighter supply
OPEC+ has not decided on whether to extend the record supply cut of 9.7 million barrels per day.
OPEC+ has not decided on whether to extend the record supply cut of 9.7 million barrels per day.
Nigeria’s external reserve position is now $9 billion years to date and down from its peak of $45.17 billion achieved.
Oil traders have flagged the start of hurricane season as a potential headwind for crude oil prices.
Nigeria is striving towards complying fully with its OPEC+ cut obligations by mid-July.
Brent crude is the leading global benchmark for Atlantic basin crude oils.
If cases soar in China and the United States, then the global economy is in for a cataclysmic shock.
Brent crude is the leading global benchmark for Atlantic basin crude oils.
Oil prices retreated further on Monday, with prices down more than 10% in less than a week.
Brent oil futures fell in an attempt to pull back some of its losses of about 8%.
Nigeria had previously failed at complying completely with its promised cuts in past months.
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