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Oil price hits 10-month high

Oil price hits 10-month high

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19 September 2023

Global oil prices have reached their highest level in more than ten months. Brent crude rose above ninety-five dollars a barrel on Tuesday. The increase is being driven by production cuts by two of the world's largest oil exporters, Saudi Arabia and Russia. The International Energy Agency has warned of a significant supply shortfall by the end of the year. Oil prices surged to more than a-hundred-and-twenty dollars a barrel after Russia invaded Ukraine last year, but fell back to seventy dollars in May. Sam Fenwick hears about how the oil price hike is affecting taxi drivers and airlines.


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