By Abba Gwale
Hours after the meeting of Organization of Petroleum Exporting Countries (OPEC) on the increase of production the price of oil has risen to $71.28 per barrel and it is the first time in 2021.
On Wednesday, Brent oil was up $1.28, or two per cent, to $63.98 a barrel.
Also Norbert Rücker, an analyst at Swiss bank Julius Baer, revealed that oil prices might push above $70 before mid-year.
“We see oil prices pushing temporarily above $70 by mid-year”, he said.
Other members of the OPEC resisted the pressure to increase production.
