Price War Hits Africa’s Largest Oil Producer
Caught in the Saudi-Russian oil price war, Africa’s largest oil producer, Nigeria, has discounted deeply its crude and aims to pump as much as it can, trying to retain customers in the unprecedented demand plunge. Even at the steepest discount in decades, Nigeria may be unable to sell all its April cargoes, traders told Bloomberg this week, as oil demand plunges and other oil producers are also offering crude discounts
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