Brent crude closed at a 27-month high yesterday over comments from Saudi Arabia that signaled the likely extension of a supply cut deal by OPEC and non OPEC members as data released by the World Bank projected growth in oil prices by 2018.
Brent futures LCOc1 gained 86 cents or 1.64 percent to settle at $60.01 a barrel, its highest close since July 2015.

U.S. West Texas Intermediate crude CLc1, meanwhile, rose 46 cents or 2.05 percent to settle at a more than six-month high of $53.54, its highest close since April.
With yesterday’s gains, Brent futures were up for four days in a row following comments earlier in the week from Saudi Arabia that the Kingdom was determined to end a global supply glut that has weighed on prices for more than three years.

“We are committed to work with all producers, OPEC and non-OPEC countries ... We will support anything to stabilise the oil demand and supply,” Saudi Arabia’s Crown Prince Mohammad bin Salman told Reuters on Thursday when asked whether the kingdom would support extending an agreement to cut supplies until the end of 2018.

The Organization of Petroleum Exporting Countries (OPEC) plus Russia and nine other producers have cut oil output by about 1.8 million barrels per day (bpd) since January. The pact runs to March 2018, but they are considering extending it.

This is coming just as the World Bank released its forecast that oil prices would rise to $56a barrel in 2018 from $53 this year as a result of steadily growing demand, agreed production cuts among oil exporters and stabilizing U.S. shale oil production, while the surge in metal prices is expected to level off next year.

https://www.dailytrust.com.ng/crude-oil-above-60-first-time-since-2015.html

lalasticlala, this is a good news to Nigeria.

Op it is no good news


Not with goat in aso rock

And his team of misfits

Even if oil reaches 500$ a barrel we won't service buharis loans in 10 years

A

Ok

Hope it won't lead to more 'okeism, lawalism. mainaism and baruism.

Nigerians need to feel the impact of this +ve trend in their homes, equitably.

Nonsense post. But things get expensive every day.

I hate Buhari

Something that will soon come back to 54/$....

Let's see how it impacts on our revenue.

Time to watch Buhari deliver the goods or simply send him packing if all he still has to give is lame excuses.

Good news for the crooks in Aso rock and their cronies!!!

Yasssssss!

Abeg make the thing dey increase dey go oo

It has happened.

The 30 man fire service crew that spent 5 hours to extinguish a car fire on a Tesla e-car model.

Okay..

Money2000:
Nonsense post. But things get expensive every day.

I hate Buhari

Let's see where your hatred takes you to. Probably heart attack in eventuality.

Out of recession.

Now, let's cross fingers and watch..

What did we benefit from the oil money till date?

They will blame Jonathan for this increment.

Wen d price now now reduce they wee blame oga jona

No excuse again.

Ok

someone has to die in the middle East for Nigeria to survive



this is the Trump-Iranian tensions.

Bad news for wailers...

You guys will wail till 2023

Mendelssohn:


Let's see where your hatred takes you to. Probably heart attack in eventuality.

You this APC coward... We will see what ends you and your so called Buhari.
My eyes r on you.

Lootimi Amaechi and Fashole right now

Good news.

rozayx5:


Op it is no good news


Not with goat in aso rock

And his team of misfits

Even if oil reaches 500$ a barrel we won't service buharis loans in 10 years

The minister of information will give a speech tomorrow that APC body language increased crude oil.price globally.

Buhari is an unbridled Idiot.

Good news

MyNewJackeT:
someone has to die in the middle East for Nigeria to survive



this is the Trump-Iranian tensions.

The funny thing is Nigerian muslims who are ready to burn Nigerian Christians down in solidarity of percieved injustice against Iranians are the ones benefiting most from the oil money.

(In lie Mohammed's voice)

Apc Campaign promise no.56 has just been fulfilled

No.56 says we shall increase crude oil price

While no.57 says we will make $1= #1

falling of it price tied buhari's hands