Brent crude price has plunged by 27% to $62.06pb since October. A slowing global growth outlook is dampening the demand for crude oil.
If this price trend continues, Q4 oil revenue could fall to as low as $9bn. This could affect the CBN’s ability to support the naira in the future.
The attached slides summarize the events that took place in the domestic and global commodity markets this week.
Enjoy your read!