Barrels of crude oil

The House of Representatives on Tuesday resolved to retain 79 dollars per barrel as the bench mark for the oil price for the 2014 budget.
The Deputy Chairman of the House Committee on Media and Public Affairs, Rep. Victor Ogene, said this at a news coference after a closed door meeting of the house that lasted for about two hours.
He said during the session, the house deliberated on several crucial issues, including security and the Medium Term Expenditure Framework (MTEF) on the benchmark.
On the MTEF, Ogene said that the position of the house was that the benchmark of the oil price should be left at 79 dollars per barrel.

He said that while some members supported 79 dollars, others went for 76.5 dollars.
Ogene said that some members argued that the Conference Committee on MTEF should be allowed open hands to go and represent the house.
?The Conference Committee between the House and Senate began its work Monday and last week, as a house, we told you why we had to mandate almost the same set of members to represent us on that committee.
?As you know the position of the house as we speak is on 79 dollars per barrel for crude as benchmark, so as we speak, 79 dollars is the position of the house.”


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