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The global benchmark for crude, dropped in price as virtually all oil grades witnessed reduced prices on the first day of the week.
According to data obtained from the September Oil Market Report, an oil rig in Nigeria was dormant in August 2022 when compared to the number of functional rigs in the preceding month.
Industry figures showed that Brent dropped in price by $4.31 or 4.76 per cent to $86.15/barrel as at 4.18pm Nigerian time.
