OPEC and Russia met today in Vienna to deliberate on global oil market developments. Prices edged higher above $64pb as OPEC signals a possible extension of an output cut beyond the initial deadline of March 2018 to the end of 2018.
Domestic commodities on the other hand were oblivious to global events, remaining relatively stable. The only outlier, rice, increased by 11.7% to N17,000/bag (50kg) as expected with the fast approaching festive season.
The attached report summarizes the commodity price movements for this week,
Enjoy your read!