Oil price on Friday rose for the third consecutive day, selling at $42.29 per barrel according to AFP.
The price of Brent crude, against which Nigeria’s oil is priced, rise to $42.29 dollars, $4.29 higher than the proposed benchmark of $38 for the 2016 budget.
Reports say confidence is growing that the world’s biggest crude producers will hammer out a deal to curb output and as a result investors piled back into the commodity, after they toyed with 13-year lows last month.
The price of Brent crude, against which Nigeria’s oil is priced, rise to $42.29 dollars, $4.29 higher than the proposed benchmark of $38 for the 2016 budget.
Reports say confidence is growing that the world’s biggest crude producers will hammer out a deal to curb output and as a result investors piled back into the commodity, after they toyed with 13-year lows last month.
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