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Oil price tumbles to $68, Nigeria’s production setbacks

Oil price tumbles to $68, Nigeria’s production setbacks

Redacted article courtesy of – Punch

The international oil benchmark, Brent crude, extended its losses on Monday, falling below the $70 per barrel mark to its lowest level since May.

The further decline in the price of Brent followed the imposition of more travel restrictions by the world’s top crude importer, China, to fight what it sees as the worst outbreak since the original coronavirus outbreak in Wuhan.

A stronger US dollar also depressed oil prices as it makes crude more expensive for holders of currencies other than the greenback.

Link to full article:   https://punchng.com/oil-price-tumbles-to-68-nigerias-production-faces-setbacks/

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