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LequteMan
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Nigeria has slashed the oil benchmark for its 2015 budget by 11 percent to $65 a barrel from $73, following fall in oil prices, a Finance Ministry spokeswoman said on Thursday.
It was the second time in a month the benchmark has been cut, after initially being lowered from $78 a barrel, Reuters reports.
Other oil exporting countries including Russia and Mexico have said they expect oil prices to be lower next year than assumed in their budgets, which may be revised.
The spokeswoman gave no further details but said Finance Minister Ngozi Okonjo-Iweala was working on a statement. No time was given for when the statement would be issued.
#Nigeria #Oil
It was the second time in a month the benchmark has been cut, after initially being lowered from $78 a barrel, Reuters reports.
Other oil exporting countries including Russia and Mexico have said they expect oil prices to be lower next year than assumed in their budgets, which may be revised.
The spokeswoman gave no further details but said Finance Minister Ngozi Okonjo-Iweala was working on a statement. No time was given for when the statement would be issued.
#Nigeria #Oil
