Crude Oil Rises to $36 on Trump’s Comments

• Crude Oil Rises to $36 Per Barrel

Crude oil rose to a record high in recent weeks after President Trump tweeted that Saudi Arabia and Russia will cut oil production to boost prices.

Investors King had reported that Russian refuted the statement saying there is no ongoing talks or plan of such.

However, Brent Crude oil, against which Nigerian oil is priced, rose to $36.11 per barrel on Thursday before retreating to $31.63 per barrel as at 10:20 am on Friday.

President Trump tweeted that “Just spoke to my friend MBS (Crown Prince) of Saudi Arabia, who spoke with President Putin of Russia, & I expect & hope that they will be cutting back approximately 10 Million Barrels, and maybe substantially more which, if it happens, will be GREAT for the oil & gas industry!”