Sidebar

Exclusive Reports

15
Thu, Apr

Oil Price Hits $71.28 Per Barrel

Top Stories
Typography

Following the 14th meeting of the Organisation of Petroleum Exporting Countries (OPEC), and OPEC+ on Thursday 4th March, the price of crude oil has on Monday risen to $71.28 per barrel in the International market, making it the first time in 2021.

Early last week, crude oil sold for $65 pb but later surged to $70 pb after continuous removal of excess supply, and hitting $71.28 pb on Monday.

While Brent oil recorded an increase from $65 pb to $72 pb, Nigeria’s Bonny Light floats at $67.69 pb, indicating an excess of $30. This is with crude oil priced at $40 pb in the National budget and a 1.8 million pd.

BLOG COMMENTS POWERED BY DISQUS