Oil price: Brent slumps under $99

Brent crude dropped towards $98 per barrel on Wednesday, weighed by the prospect of sluggish fuel demand in top consumers the United States and China,upstreamonline.com reported.

More bleak economic news came courtesy of the International Monetary Fund, which trimmed projections for this year and next – implying limited upside for oil demand growth.

The North Sea benchmark has lost nearly six per cent over the past five sessions in a wider commodities rout triggered by data showing growth in China, the world’s second-largest oil burner, had slowed unexpectedly in the first three months of 2013. Read more

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Integrity Organization is committed is an anti-corruption, research and advocacy organization. Its activities are centered on the aim to reduce the tolerance for corruption in Nigeria.

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