Coronavirus: Crude oil sales drop over outbreak of disease in Nigeria
Coronavirus disease is taking a toll on the sales of crude as it has dropped drastically due to companies shutdown.
The Nigeria’s Minister of State for Petroleum, Timipre Sylvia has expressed strong concern about the situation which has left the country’s projection for 2020 with a shortfall that may be too massive to recover in very “short notice”. Nigeria had hoped that China will provide it with the single largest sales when it pegged its projection for 2020 at $57 per barrel of crude.
Nigeria’s Minister of State for Petroleum said the country was extremely worried about the dip which could fall as low as $48 as more companies shut down businesses in the wake of the disease.
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