We Begged People To Buy Oil At $9, Say Kyari




Whatsapp News

The Group Managing of the Nigerian National Petroleum Corporation, Mallam Mele Kyari, said buyers were begged to purchase the Nigerian crude at $9 per barrel in April.

The oil benchmark, Brent crude, plunged to as as $15.98 per barrel in April, its lowest since June 1999 amid the collapse in demand and the price war between Saudi Arabia and Russia.

“Actually, we sold oil at $9 per barrel in April, and practically we begged people to come and take,” Kyari said while addressing energy correspondents in Abuja on Friday.

He said the country achieved a production level of 2.49 million barrels per day in April, adding that the target of three million bpd was achievable.

The boss said 2020 had been a difficult year for the industry and the world economy, adding that the industry fundamentals had changed.

Source