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Brent climbed to $72.59pb on expectations that OPEC+ will extend output cuts

Brent futures rose 1.06% to $72.59pb as expectations grew that OPEC+ will extend current output cuts through Q1’25 at its December 5 meeting, Saudi Arabia is expected to lower crude prices for Asian buyers to a four-year low, adding further pressure to the market.

The price of a pack of orange juice surged by 81% (yoy)

The price of a pack of orange juice rose by 81% (yoy) to N1,630 from N900, driven by supply shortages from Brazil, which accounts for 70% of global exports. Rising demand due to consumers’ preference for orange juice over carbonate drinks.

FDC’s senior associate, Dumebi Oluwole, and senior analyst, Tomiwa Ajewole, discussed these and other burning economic issues on Channels TV Business Morning and Business Incorporated programmes, respectively.

Click the link to watch the video.

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