Oil Benchmark Lowered Over Expected Crude Glut – Zainab
October 15, 2019
1:32 pm
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The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has said the federal government adopted a lower oil benchmark price of $57 per barrel for the 2020 budget as against the $60 per barrel in the 2019 budget because of the expected oil glut in 2020, as well as the need to cushion against unexpected price shock.
Zainab, at a budget breakdown yesterday in Abuja, said there were strong indications of an oversupplied oil market in 2020, adding that all …
