FG SLASHES 2015 BUDGET OIL BENCHMARK PRICE TO $65PB

The Federal Government has slashed the 2015 budget oil benchmark price from $73 to $65 per barrel because of the continued fall of oil prices at the global market.

The price of Brent crashed from $71 to $69.92 per barrel yesterday, while that of the Organisation of Petroleum Exporting Countries, OPEC, basket of 12 crudes stood at $67.31 per barrel compared with $68.13 the previous day, according to OPEC Secretariat calculations.

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