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The price of oil in Nigeria hit $85 a barrel, the highest since October 2018. Brent crude futures traded as high as $85.07 per barrel on Friday morning. Elsewhere the US West Texas Intermediate WTI crude futures increased by 0.85 percent to $82 a barrel.


This is happening after the Organization of Petroleum Exporting Countries (OPEC) and allies agreed to maintain their gradual oil production increase every month.


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