Tag: Oil price

Oil Hits Two Year-High, Skyrockets to $70.20 Per Barrel

Efe Wellington

Here is how the oil price surge worsened revenue, expenditure concerns for Nigeria     The price of crude oil, Nigeria’s biggest revenue earner, on Tuesday hit $70.20 a barrel for the first time in two years. This surge, last seen since May 2019, was on investors’ optimism that improving oil demand and a dwindling supply glut may mean the market can absorb any additional supply from OPEC and its allies. The new price surge is a mixed grill for Nigeria as it should receive the highest revenues on crude…

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Oil flirts with $70 pb Mark, Surges Market Optimism to 2021 High

Efe Wellington

  Price of Brent Crude has touched $70 per barrel Price, a development that has, according to Platforms Africa, surged optimism in the global market to the highest level in 2021 There was a slight pullback in oil prices following Wednesday’s highs, but the rally is still very much on and bullish sentiment is palpable as summer driving season nears. For more great energy content, make sure you subscribe to the Oilprice youtube channel for breaking news and analysis. A report on Friday, May 7th, 2021, shows that Brent tested $70 per…

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