This is coming on the
heels of Thursday’s meeting where the Organisation of Petroleum Exporting
Countries (OPEC) and other members resisted the pressure to increase
production.
Before Thursday’s
meeting, Brent oil was up $1.28, or two per cent, to $63.98 a barrel by 1050
GMT on Wednesday.
Norbert Rücker, an
analyst at Swiss bank Julius Baer, on Wednesday, revealed that oil prices might
push above $70 before mid-year.
“We see oil prices
pushing temporarily above $70 by mid-year,” he said.
Source: channelstv.com
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