Concerns As Oil Prices Fall Below Nigeria's $60/barrel Budget Benchmark - Politics - Nairaland
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| Concerns As Oil Prices Fall Below Nigeria's $60/barrel Budget Benchmark by todaysecho: 12:20pm On Aug 07, 2019 |
SWITZERLAND, AUGUST 7 – There are concerns regarding the execution of Nigeria’s 2019 budget after oil prices fell below the $60 per barrel benchmark. Oil prices have reduced to $58 per barrel, setting new seven-month low amidst trade tensions between United States and China. Oil prices slipped further on Wednesday, extending recent heavy losses as deepening Sino-U.S. trade tensions weighed on the outlook for the global economy and energy demand. Brent crude futures were down 11 cents, or nearly 2%, at 0823 GMT to set a fresh seven-month low. Prices have lost more than 20% since hitting their 2019 peak in April. U.S. West Texas Intermediate (WTI) crude futures were flat at $53.63. Brent prices have plunged more than 9% over the past week after U.S. President Donald Trump said he would slap a 10% tariff on a further $300 billion in Chinese imports from Sept. 1, sending global equity markets into a tailspin. https://www.todaysecho.com/business/concerns-as-oil-prices-fall-below-nigerias-60-barrel-budget-benchmark/
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| Re: Concerns As Oil Prices Fall Below Nigeria's $60/barrel Budget Benchmark by otokx(m): 12:42pm On Aug 07, 2019 |
It is expected to fall further. |
| Re: Concerns As Oil Prices Fall Below Nigeria's $60/barrel Budget Benchmark by BlackfireX: 1:48pm On Aug 07, 2019 |
Everywhere badnews must affect Nigeria.... Whom did we offend |
| Re: Concerns As Oil Prices Fall Below Nigeria's $60/barrel Budget Benchmark by Restoresp: 1:56pm On Aug 07, 2019 |
That's the reason our government need to support SMEs |
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