Friday, July 06, 2018 /09:10 AM /FDC
Global oil prices have remained elevated at $77pb in spite of OPEC’s decision to increase supply by 1mbpd. The supply disruptions in key oil producing nations will make increasing supply a herculean task. For a country like Nigeria, higher oil prices are a comfort especially with the projected decline in oil cargoes by 11.22% in July/August.
Meanwhile, the naira retreated from a brief stint at N360/$ as liquidity increased in the money markets.