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Oil prices below $40: What it means for Nigeria, local oil companies, banks

The price of Brent, the benchmark of Nigeria’s crude oil has fallen to $39 as bearish factors mount and sentiment shifts add another wrench in the recovery for oil prices still reeling from the pandemic-driven blow to consumption. Brent futures dropped 4.1 percent to $38.95 a barrel as at 2 pm Nigerian Time, while US…

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