Opera News

Opera News App

Breaking: Oil Price Hits $71.28 Per Barrel

Samaila2020
By Samaila2020 | self meida writer
Published 1 months ago - 1 views

The Organisation of Petroleum Exporting Countries (OPEC) last Thursday's meeting held which some of the members resisted the pressure to increase the production of Petroleum.

During the early Covid-19 pandemic the price of petroleum decrease drastically but for the first time in 2021, the oil price has risen to $71.28 per barrel in the international market.

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

But close monitoring of the market by Vanguard showed that the price, fuelled by the continued removal of excess supply, started surging towards $70, before hitting the current level on Monday, March 8, 2021.

An analyst by the name Norbert Rücker who is an analyst at the Swiss bank Julius Baer, on Wednesday, released a statement that the oil may push above $70 before the middle of the year.

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

If you find this article interesting ensure you follow our page for more update.

Content created and supplied by: Samaila2020 (via Opera News )

Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform

YOU MAY LIKE

Facebook Operations Now powdered 100% By Renewal Energy

50 minutes ago

3 🔥

Facebook Operations Now powdered 100% By Renewal Energy

Wherever You Are This Thursday Morning (15/04/2021), Declare These Prayers For Total Breakthrough

1 hours ago

485 🔥

Wherever You Are This Thursday Morning (15/04/2021), Declare These Prayers For Total Breakthrough

Top 4 largest ports in Nigeria

1 hours ago

27 🔥

Top 4 largest ports in Nigeria

Borno State To Get A Gas Power Plant As NNPC CEO Meets With Governor Babagana Umara Zulum

2 hours ago

55 🔥

Borno State To Get A Gas Power Plant As NNPC CEO Meets With Governor Babagana Umara Zulum

15th Of April, 2021: Say these prayers for God's help

2 hours ago

274 🔥

15th Of April, 2021: Say these prayers for God's help

Meet The Nigeria 34year Old Billionaire Oil Mogul, Jawizaza (Photos)

2 hours ago

104 🔥

Meet The Nigeria 34year Old Billionaire Oil Mogul, Jawizaza (Photos)

China speeds up construction of clean, low-carbon society

6 hours ago

1 🔥

China speeds up construction of clean, low-carbon society

Top 3 Shortest WWE Wrestlers

7 hours ago

82 🔥

Top 3 Shortest WWE Wrestlers

Read what Aliko Dangote had said about increase in Cement Price in Nigeria.

9 hours ago

78 🔥

Read what Aliko Dangote had said about increase in Cement Price in Nigeria.

FC Barcelona could re-sign former 21-year old defender in summer.

9 hours ago

43 🔥

FC Barcelona could re-sign former 21-year old defender in summer.

COMMENTS