Oil'' s most significant wild card: Chaos in Nigeria

Africa’s wealthiest guy is developing one of the world’s largest oil refineries
An unexpected force has assisted lift oil rates back to the $50 threshold: militants exploding oil facilities in Nigeria. The current wave of sabotage on Nigeria’s oil infrastructure has knocked nearly 1 million barrels of day-to-day production off line, adding to the country’s financial tension and dismissing it as Africa’s biggest manufacturer. Nigeria’s oil production plunged to approximately 1.4 million barrels a day in Might, its most affordable regular monthly rate given that the late 1980s, according to the U.S. Energy Info Administration.

Leave a Reply

Your email address will not be published. Required fields are marked *