Oil Prices May Spike Monday, Nigeria Pipeline Attacked (CVX)(RDA.A)

Energy

Published: December 19, 2009 10:46 am

Last Updated: March 30, 2020 10:41 am

Nigerian rebels have probably attacked pipeline installations near facilities operating by Chevron (NYSE:CVX) and Royal Dutch Shell (NYSE:RDA.A). This could cause the price of crude to rise at the end of the holiday.

AP reports that “The violence has cut Nigeria’s oil production by about a million barrels a day, allowing Angola to surge ahead as Africa’s top oil producer. Major attacks in the Delta also have made global oil prices jump by more than a dollar a barrel in the past.”

Douglas A. McIntyre

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