Oil boom as prices rise over $90 per barrel on Saudi Arabia, Russia production cut
By Eyo Nsima
Oil prices have risen to more than $90 per barrel in the global market, due to production cut by Saudi Arabia and Russia.
Specifically, the prices of Bonny Light, Brent and OPEC Basket rose to $90.88, $90.87 and $91.27 per barrel, respectively, from less than $90 per barrel recorded on Monday this week.
The current high prices, apparently then highest in 2023 would enable many oil and gas producing nations generate much revenue for the impementation of their projects and programmes.
But those without huge refining capacities stand to spend much funds in the importation of refined products as refiners are already set to raises prices.
. Details coming later
