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Friday, February 21, 2020 / 11:15 AM / FDC / Header Image Credit: FDC
Brent is currently trading
at $59pb, 3.5% higher than the budget benchmark of $57pb. The weekly
trend has been largely positive owing to supply shortages from Libya and the US
sanctions on Russia's oil firm, Rosneft.
If prices remain elevated,
Nigeria's oil revenue could increase in the near term. This would offer some
relief to Nigeria's bleeding external reserves and falling FAAC allocation.
In the slides below,
these issues were broken down by analysts at the FDC Think Tank on Channels TV
Business Morning programme.
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