Crude oil prices spiked above $93 a barrel on Friday, the highest since October 1, 2014.
Brent crude, the global oil benchmark, rose more than 2.9 percent to $93.54.
Similarly, West Texas Intermediate (WTI) crude futures increased 2.5 percent to $92 a barrel.
Over the past months, oil prices have continued to surge as countries relaxed lockdowns and dropped travel restrictions.
On Wednesday, the Organisation of the Petroleum Exporting Countries (OPEC) and allies led by Russia, known as OPEC+, agreed to increase output by 400,000 barrels per day (bpd).
Source: https://energynewsafrica.com