The Guardian Nigeria News - Nigeria and World News guardian.ng 22 Jul, 2021 03:45 am

Nigeria’s crude wobble as inventories keep volatility high

Nigeria’s crude wobble as inventories keep volatility high
Selling above $75 dollar per barrel earlier this week, Nigeria’s Bonny Light crude yesterday, dropped to $68 per barrel on the backdrop

With a record $7 slide in less than two days, API had reported a build in crude oil inventories of 806,000 barrels for the week ending July 16, bringing the total 2021 crude draw to under 50 million barrels.88 million barrels per day (bpd), the latest OPEC decision authorised the nation to produce 1.829 million barrels per day from 2022.333 million barrels was projected for the week, API had reported a draw in oil inventories of 4.

079 million barrels, largely in line with analyst predictions for a draw of 4.333 million barrels.

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