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Wednesday,
June 24, 2020 / 09:45 AM / FDC / Header Image Credit: FDC
African oil producers are being compelled to comply
with their various OPEC quota. This is to keep prices at current levels of
$40pb or above. To countries like Nigeria whose oil revenues are more
production than price sensitive, this could be a problem in the near term.
Like all cartels or oligopolies, price leadership is
the key to maintaining price and output discipline.
Nigeria's oil benchmark has just been approved by
parliament at $28pb. Its fiscal programs and the value of the naira in the
forex market will be determined to a large extent by the fortunes of the oil
markets.
In the slides below, the FDC Think Tank discussed these and other burning issues on
Channels TV Business Morning programme.
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