Nigeria's leading finance and market intelligence news report.

Further strain on economy as OPEC agrees 1.5m bpd cut, awaits Russian backing

…unsold consignments at 70% as 55 Nigerian, 18 Angolan cargoes yet to find buyers

The Organisation of Petroleum Exporting Countries (OPEC) rising from a meeting on Thursday, which included non-OPEC members including Russia, proposed to cut global oil supplies by 1.5 million barrels per day (bpd) in an attempt to prop up prices as it confronts the biggest collapse in demand, no thanks to the impact of coronavirus outbreak….

Join the BusinessDay Inner Circle to read exclusives and gain insights for N1000/month

Get real time updates directly on you device, subscribe now.

Comments are closed.