… But over-reliance of crude oil for revenue amidst the oil price fluctuations has affected the …
hand, oil revenue comprises of crude oil sales, taxes on oil exploration companies and oil rents…

… 4 Crude oil is commonly classified as ‘light’, ‘medium’ or ‘… Light, sweet crude is the most
sought-after version of crude oil … are characterised by a heavy reliance on agriculture. Agriculture, …

… ▪ Fuel export is the sale of crude oil in the international market, for the study, it is the ratio of
Fuel exports to all … exporting raw crude Oil and importing refined crude Oil. Moreover, African …

… Other areas that have been investigated include the convergence of shale oil and shale gas
[3], the relationship between the price of crude oil and the production of shale oil [8] and the …

… Annual US crude oil production today is 5 million barrels per day after peaking at 9 million …
our reliance on foreign oil from 30% to nearly 70%. 30 Growing US dependence on foreign oil …

… of reliance on oil and gas revenue. Some earlier studies had been carried out on the
relationship between … The study used crude oil revenue and crude oil barrels as measures for …

… in favour of an unhealthy dependence on crude oil. In 2002 … economy because of reliance
on petroleum revenue. However, … the relationship between oil revenue and Nigeria economic …

… Also continued reliance on developed countries as markets for oil and non-… on crude oil
production and the price of crude oil in the international market. However, the price of crude oil …

… crude oil as an antidote to oil theft. Nigeria has consistently argued that stolen crude oil …
China’s continuous reliance on oil imports somewhat ties its prosperity to political turmoil in …

The objective of the thesis research was to carry out an extensive study and provide the impacts
dwindling crude oil prices had on oil producing countries, using Nigeria as a case study …