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OPEC
News and stories about OPEC
Oil prices suffered significant losses at the mid-week trading session in London.
Brent oil futures rallied by 1.20% to trade at $65.11 a barrel, the highest since January 20, 2020.
Uncertainty in the air as signs of a possible increase in the price of petrol persists.
Brent crude futures dropped 0.6% at $60.80 a barrel having dropped 0.50% on Thursday.
Brent oil futures lost about 0.2% to trade around $61 a barrel
Both major oil benchmarks are at their highest since January 2020.
Oil traders are going long on hopes that a $1.9 trillion stimulus package proposed by Joe Biden last month would see the light of day.
Timipre Sylva has been appointed by the JMMC of OPEC as Special Envoy to some participating countries.
Some OPEC members continue to argue that increasing production in the face of weak demand could cause prices to drop.
Oil prices rallied after industry data showed U.S. crude inventories dropped unexpectedly last week amid fears that the COVID-19 infection,
With Joe Biden's imminent inauguration as the President of the US, his policy on energy and renewables could very well determine Nigeria´s prosperity for the next 4 years.
Brent oil futures gained 0.68% to trade at $56.28 a barrel adding to yesterday's 2.1% gain.