| Organisation of Petroleum Exporting Countries (OPEC) has attributed the current global crude oil price volatility to continued uncertainty, stemming from the slow pace of global economic growth, continued Euro-zone debt crises, high unemployment in advanced economies and the risk of inflation in developing countries.
Already, there have been fluctuations in crude oil prices going below $98 per barrel and this is setting off warnings about the ability of Nigeria to fund its yearly budget. The National Assembly passed a N4.987 trillion budget for 2013 last December, based on oil production of 2.562 million barrel per day; however the crude oil production assumption contained in the 2013 budget was never achieved in 2012...............................................Full Article: Source
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