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DTIC ADA288987: Issues Regarding Imposition of an Oil Embargo Against Nigeria.
While a multilateral oil embargo could have a significant economic effect on Nigeria, there is currently little international support for such an action. According to our analysis, a comprehensive, effectively enforced multilateral embargo on Nigerian oil would have a devastating effect on Nigeria's economy because 96 percent of its projected 1994 foreign exchange earnings is expected to come from oil exports. If completely successful, an embargo could potentialiy reduce world oil supplies by 1.6 miffion barrels per day if there were no increase in production from other sources. Such a reducti…
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