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The price of Brent, the crude against which Nigeria’s oil is priced, increased marginally.
This comes as the Organization of Petroleum Exporting Countries, OPEC, projected a slow growth momentum in terms of economic recovery this year.
Oil price figures showed that the cost of Brent appreciated by 1.12 per cent or $0.87 to $78.65 per barrel as at 5.10pm Nigerian time.
Crude oil in the OPEC Basket rose to $77.97 per barrel, representing a 5.04 per cent or $3.74 rise as at 5.10pm, when compared to what was posted the previous day.
