The federal government yesterday ruled out revising upward the $55 per barrel oil price benchmark adopted for the 2020 budget despite a spike in value of the commodity in the global market in the aftermath of Saturday's drone attacks on Saudi Arabia oil facility that wiped out about five per cent of global supplies.
Oil prices yesterday continued on the upward swing in the wake of the attacks launched against Saudi Arabia facility by Iran-backed Houth is movement in Yemen; rallying at about $72 a barrel.
...
AllAfrica Subscription Content
You must be an allAfrica.com subscriber for full access to certain content.
You have selected an article from the AllAfrica archive, which requires a subscription. You can subscribe by visiting our subscription page. Or for more information about becoming a subscriber, you can read our subscription and contribution overview.
For information about our premium subscription services:
You can also freely access - without a subscription - hundreds of today's top Africa stories and thousands of recent news articles from our home page »
Already a subscriber? Sign in for full access to article