By Edozie Obasi-Eze
Global oil prices opened the year strongly with market kicking off on Monday with Brent crude adding 56 cents or 0.72 per cent to hit $78.34 a barrel as at 0710 GMT.
In the same vein, US West Texas intermediate crude futures gained 52 cents, or 0.69 per cent to $75.73 a barrel.
Market watchers observe that the development signals more revenue inflow for Nigeria because the opening price is about $21.34 a barrel over its $57 per barrel benchmark oil price set out in the 2022 budget.
This is coming on the heels of Secretary General of the Organisation of Petroleum Exporting Countries(OPEC), Mohammad Sanusi Barkindo, set for exit in August 2022.
Recall that a special meeting of the Conference of the OPEC yesterday, appointed Haitham Al-Ghais of Kuwait as Secretary General of the Organization, with effect from 1 August 2022, for a period of three years.
