Nigeria oil corporation slashes crude oil price to attract buyers: Nigeria's crude oil becomes less marketable

Nigeria oil corporation  slashes crude oil price to attract buyers: Nigeria's crude oil becomes less marketable 

The Nigerian National Petroleum Corporation, NNPC, weekend, reduced the prices of Nigeria’s crude oil grades — Bonny Light and Qua Iboe — to their lowest points in over a decade.

The decline, according to reports, was due to declining demand for the country’s crude oil in the international market. The action, according to oil traders, was engendered by the need for the country to join in the fight for market share.