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Oil price falls below budget benchmark

Oil price falls below budget benchmark

THE declining global oil price in the last one week may shatter Federal Government’s economic projections for 2019 as well as impact adversely on its Medium Term Expenditure Framework, MTEF, if the trend is not reversed soon.

Oil price slide enters 5th week, now $71.68 p/b

Oil price slide enters 5th week, now $71.68 p/b

THERE was tension in oil producing and exporting nations, including Nigeria, yesterday as the price of crude oil slipped further to $71.68 per barrel, about 0.45 or 0.62 per cent down from $72.13 recorded the previous day in the international market. This development puts the price trend on the fifth consecutive week of decline.