Omicron ፡’s crude oil has fallen below $ 70 due to fears of recovery.

TCrude oil market continues to suffer from depression due to the new Omicron COVID-19 variant.

The International Air Transport Association (ITA) also warned on Thursday that governments’ response to the differences in OMICON COVID-19 could jeopardize air transport recovery.

Crude oil, Brent closed at $ 68.88 per barrel, West Texas Medium (WTI), with a 0.92 percent decline to $ 65.57 per barrel, and Nigerian Bone Lime closed at $ 69.81 per barrel, down 5.05 percent. The new vaccine, which has been shown to be resistant to the vaccine, has seen a sharp drop in the price of cannabis last week.

“If we are not sure about Omixon, we expect OPEC to set a target in January to increase production and maintain its quota,” Morgan Stanley, a US multinational investment bank and financial services company, told clients.

Daily Trust He said the impediment to the oil market was feared to hurt the Nigerian economy, which is heavily dependent on oil exports.

Nigeria has so far registered three Omicron cases.

“These are the people who came to the country last week. Monitor for segregation, connection with clinical care, contact search, and other related response activities.

“Preparations are under way to notify the country of origin in accordance with the provisions of the International Health Code,” the NCDC said.

Prior to the advent of CVD-19, Nigeria’s oil sector accounted for about nine percent of the country’s gross domestic product (GDP). Between October and December 2020, the oil industry accounted for 5.9 percent of GDP.

Nigeria is one of the world’s largest producers of crude oil, with more than two million barrels of oil produced daily by early 2020. Later, production fell to 1.14 million barrels per day in January 2021, the lowest price in recent years. Overall, Nigeria’s lowest daily oil production was recorded in the first three months of 2021.

Although the fall in oil prices is not below the benchmark target for the 2022 budget, experts fear any attempt to push for a global lockout will have a negative impact on monopolies such as Nigeria.

The aviation sector is in danger, IATA is screaming

In addition to the threat posed by the oil sector in the way countries respond to the OIC, air transport is also at risk.

The IAAA, which represents 290 airlines, accounting for 83 percent of the world’s air traffic, has already reported a resurgence in air traffic, and by October 2021 it has seen significant improvements in domestic and international markets.

However, Omicron’s differences have led countries to impose a series of restrictions, particularly on African countries, especially in Europe.

Responding to the development, AITA said yesterday that the ban on travel by governments without the advice of the World Health Organization (WHO) would jeopardize the sector’s recovery.

According to the International Civil Aviation Organization (ICAO), in the month of October 2021, the total air demand (measured by RPKs) decreased by 49.4 percent compared to October 2019.

IATA Director-General Willie Walsh said in a statement: “October traffic performance strengthens people to travel when they are allowed to.

African airlines dropped by 60.2 percent in October two years ago, the report said.

Traffic decreased by 62.1 percent in September 2019. October capacity decreased by 49.0 percent and freight rate decreased by 15.2 percent to 54.1 percent.

Walsh said, “Last month, the lifting of US travel bans from 33 countries raised widespread demand for travel in the coming Northern Hemisphere winter.

But Omicron’s diversity has alarmed many governments to restrict or eliminate freedom of movement – although the WHO says’ blanket travel bans do not prevent global spread and place a heavy burden on lives and livelihoods. ‘

Restrictions Affect Nigerian Economy – Experts

The decline in crude oil prices at Nusuka University in Nigeria will have an impact on Nigeria’s income, which will have a significant impact on budget implementation and economic recovery.

Although the economy is growing in the third quarter, oil prices will continue to decline in the first quarter of 2022, he said, adding that the world will be affected by the fight against the Omron Covide-19 virus.

A.D. He explained that limited travel conditions could lead to economic collapse during the 2020 lockout period. However, due to mass immunizations in 2020, it will be completely shut down, he said. So Omicron’s effect may not be so great.

He understood the nature of the coronavirus to some extent and said that the differences in omega-3s could not be so destructive.

Cross Wings Air CEO Commodore Hambali Tekur (Artdi) also told our reporter that the Omikron virus will hit the aviation industry during the CVD-19 lockout period.

He said the imposition of travel restrictions would have a major impact on travel, aviation and the economy.

Tayo Ojuri, aviation analyst and CEO of Aglow Aviation Services Limited, also said that the travel ban would affect not only the aviation world but also Africa as a whole.

South Africa’s emerging airline says it will be difficult to cope with the new wave of sanctions.

The solution is that world leaders in aviation such as the International Civil Aviation Organization (ICAO) and the International Civil Aviation Organization (ICAO) have used in-depth vaccination tools to facilitate flawless travel, Omar said.

He warned that the airline’s losses could be exacerbated by the fact that many people who want to travel to yuletide could be discouraged.

“It will be a little difficult.

“With that, he’s just going to mix it up. Travel is about to be restricted. Airlines are about to go bankrupt. We’ve already talked about a $ 35 billion loss, but with Omicron, it will be much more than that.

“In Africa, the now restricted South African airline is affected by the ban on South Africa. Where do you get the money to work? In Nigeria, too, many people are discouraged from traveling. ”

On Sunday m. Ogu, Chris Agabi (Abuja) and Abdullatif Aliyu (Lagos)

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