BREAKING: Oil Price Hits $71.28 Per Barrel

For the first time in 2021, oil price has risen to $71.28 per barrel in the international market.

This is coming on the heels of Thursday’s meeting where the Organisation of Petroleum Exporting Countries (OPEC) and other members resisted the pressure to increase production.

Before Thursday’s meeting, Brent oil was up $1.28, or two per cent, to $63.98 a barrel by 1050 GMT on Wednesday.

READ ALSO: Central Bank Of Nigeria To Pay N5 For Every $1 Sent And Received From Abroad

Norbert Rücker, an analyst at Swiss bank Julius Baer, on Wednesday, revealed that oil prices might push above $70 before mid-year.

“We see oil prices pushing temporarily above $70 by mid-year,” he said.

Oil News AddThis : Original Author : NaijaGistReporters,