Brent Below $50 Keeps West Africa Projects Underwater: ChartBy
Sustained Brent crude prices below $50 a barrel will damp the prospects for new oil projects in West Africa. Angola, the continent’s biggest producer, has the lowest break-even price of $49.60 a barrel, according to Rystad Energy UCube. Nigeria, which lost its top ranking after attacks by militants on pipelines and other oil infrastructure, needs $81.80 a barrel to make a profit.
Watch Next: What's Keeping the Lid on Oil Prices?
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