Oil Price Moves Above $50 First Time in 2016

The price of oil has gone above $50 a barrel for the first time in 2016 as supply disruptions and increased global demand continue to fuel a recovery.

The benchmark Brent crude price hit $50.07 a barrel in Asian trade.

The rise followed us data on Thursday showing that oil inventories had fallen, largely due to supply disruptions following fires in Canada.

Brent crude has now risen 80% since it hit 13-year lows of below $28 a barrel at the start of the year.

Talks in recent months between OPEC and Russia about freezing oil production had already helped prices recover.

DOWNLOAD THE ROCKCITYFM APP AND LISTEN LIVE

Please subscribe to our newsletter

CONTACT US

Do you have any request or enquiry? Do not hesitate to send us an email and we'll get back to you, asap.

Sending

©2021 RockcityFM The Voice of the People

Need Help? Chat with us
or

Log in with your credentials

or    

Forgot your details?

or

Create Account