Nigeria: Indigenous Firms Face Gloomy Future Over Plummeting Oil Prices

19 August 2015

Crude oil prices have now fallen by more than fifty per cent since June last year, when the commodity was being sold for $110 per barrel. Brent crude, the global oil benchmark, fell 1.2 per cent to $48.61 a barrel on London's ICE Futures exchange on Monday.

On the New York Mercantile Exchange, West Texas Intermediate futures were trading down 1.7 per cent at $41.75 a barrel.

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