Oil11 Apr 2020 21:17
Nigeria expects at least $2.8 billion in additional revenue from expected gains in oil prices after OPEC+ members agreed to cut crude production.
“This historic intervention when concluded will see crude oil prices rebound by at least $15 per barrel in the short term, thereby enhancing the prospect of exceeding Nigeria’s adjusted budget estimate that is currently rebased at $30 per barrel and crude oil production of 1.7 million barrels per day,” Timipre Sylva, the minister of state for petroleum resources, said in an emailed statement on Friday.