The Nigerian National Petroleum Corporation says demand for Nigerian crude oil in March dropped by 6.8 million barrels due to the COVID-19 pandemic.
![](https://thenigerialawyer.com/wp-content/uploads/2026/09/2026-IDRI-Masterclass.png")
The Group Managing Director of NNPC, Mele Kyari, said this on Channels Television’s Sunrise Daily programme on Wednesday.
Kyari said the drop in the demand for oil was not peculiar to Nigeria but global.
When asked how Nigeria’s crude is doing on the international market, he said, “Well, it is doing badly but it is improving. Last week, it went down to close to $15 per barrel but as I speak this morning, we are at $32.79 to a barrel.
“So, we think with all the engagements going on, countries going back to work like in Europe means consumption will come back, demand will rise because we have lost about 6.8 million barrels of demand in March alone.
“And when things come back, the market will balance and make sure that the market recovers. I am sure you are aware of all the engagements that have gone on in internationally with OPEC, producers and the partners to make sure that there is balance.”
Kyari expressed optimism that things would rebound before the end of the year.
[A MUST HAVE] Evidence Act Demystified With Recent And Contemporary Cases And Materials
Available now for NGN 40,000 at ASC Publications, 10, Boyle Street, Onikan, Lagos. Beside High Court, TBS. Email publications@ayindesanni.com or WhatsApp +2347056667384. Purchase Link: https://paystack.com/buy/evidence-act-complete-annotation
______________________________________________________________________ “Enhance Legal Practice With Authoritative Reports” — Alexander Payne Offers Comprehensive Law Reports, Spanning Over A Century Of Nigerian Jurisprudence
Interested buyers are encouraged to place their orders and enquiries via:
0704 444 4777, 0704 444 4999, 0818 199 9888
Website: www.alexandernigeria.com
