JUST IN: Oil Price Hits $71.28 Per Barrel

Oil Price Has Hit $71.28 Per Barrel.

OnyxNews Nigeria reports that for the first time in 2021, oil price has risen to $71.28 per barrel in the international market.

This online news platform understands that this is coming on 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 #GiveHerBetaHealth: GTBank Champions Access To Health Insurance For Women On International Women’s Day

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.