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Analysis by Region - Emerging Markets - Nigeria

Publisher Oxford Economics
Published Mar 05, 2026
Length 7 Pages
SKU # OFE21076992

Description

Global energy markets have been rattled by US–Israeli strikes on Iran, prompting a far-reaching response from the Iranians. Brent crude oil prices rose to around $80 pb after the initial shock, suggesting markets are pricing in the disruption rather than a prolonged closure of the Strait of Hormuz that would trigger major shortages. Consequently, we have raised our near-term Brent crude oil price forecast, though we expect the global supply glut to keep global oil prices subdued as tensions dissipate.

Table of Contents

7 Pages
Nigeria: Africa's oil giant reaps short
term gains from oil whiplash
Forecast overview
Recent developments
Short
term outlook
Key drivers of our short
term forecast
Economic risk
Economic risk evaluation
Long
term prospects
Alternative long
run scenarios
Background
Economic development
Structure of the economy
Balance of payments
Policy and politics

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