Nigeria cuts crude oil selling price to attract buyers as global crisis persists


NIGERIA – Following the surge in global uncertainty and weak demand for Nigerian crude oil, the Federal Government has slashed the Official Selling Price (OSP) of Nigeria’s crude oil to lure buyers as over 70 percent of April cargoes remain unsold. According to a Reuters report, the nation lowered its OSP last week before releasing its May loading programmes on Monday. May loading programmes emerged with key grades seeing a rise over the previous month. Bonny Light and Forcados are both higher and due to load 245,000 barrels per day,…

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