Saturday 22 September 2018
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allafrica
4 months ago

Nigeria:Experts Advise Excess Oil Proceeds Be Spent On Infrastructure, Savings

[This Day] Crude oil prices have been on the rise for some time and are expected to maintain the upward streak for a while. Brent crude surged to $80 per barrel recently, a level never achieved since 2014. Increased geopolitical tensions in the Middle East, plunging Venezuelan production, and the return of United States sanctions on Iran, which are expected to keep exports lower amid tighter market, have been adduced as some of the factors causing the rise in the oil prices.

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