Oil prices surged to the highest in more than two years on Tuesday, as the world’s biggest crude producers agreed on a gradual easing of production cuts.
As of the time of filing this report, Brent crude futures, an international oil benchmark which Nigeria trade, hit $71.11 a barrel, up by 2%, while West Texas Intermediate oil futures stood at $68.59 after the meeting.
This is the first since April 2019 that the oil price will trade above $70 per barrel.
Rising from its online meeting, on Tuesday, OPEC and its oil-producing allies, known as OPEC+, agreed to continue to…
