19th June, 2020
Speaking of Oil, the commodity is on route to concluding the week roughly 10% higher despite the rising coronavirus cases in Beijing, parts of the United States and Japan. OPEC has given Nigeria and three other countries till Monday 22nd of June to submit a schedule of oil production cut compensation plan. It will be interesting to see how the country plans to compensate for the overproduction in April’s deal.
Source : Lukman Otunuga, Senior Research Analyst at FXTM.
Reporting for EasyKobo on Friday , 19 June 2020 in Lagos, Nigeria