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Commodities Briefing - Categorized | Oil, Price Watch more

FG benchmarks oil price at $77.5 for 2014

Posted on 30 December 2013

The Federal Government has benchmarked crude oil price for 2014 budget at $77.5 barrels per day (bpd), a departure from the $75bpd of crude projected for 2013. Economy analysts do not expect much controversy from this level given the projected oil production of 2.3883mbpd for 2014.
The issue of oil benchmark generated a lot of furore between the executive and the legislature last year. The lawmakers wanted it pegged at $79pbd whereas the executive pegged it at $75bpd………………………………………..Full Article: Source


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