- Crude oil price is currently hovering around $91.79 per Barrel in the international market
- Crude oil prices recorded an increase last weekend as OPEC members maintained oil outputs
- The development has caused panic in Nigeria among consumers who fear a petrol price increase
The price of Nigeria’s Bonny Light rose to $92.79 per Barrel over the weekend from $90.88 recorded last Tuesday, September 5, 2023, as OPEC members extended output cuts in the market.
Russia continued its voluntary crude oil export drop by 300,000 barrels per day until December 2023, while Saudi Arabia extended its one million daily supply cut into October 2023 to enhance stability.
