Nigeria’s Bonny Light crude oil price touched it’s highest since 2014 at the weekend, supported by the Organisation of the Petroleum Exporting Countries (OPEC) led production cuts, and the increasing likelihood of the United States taking military action in Syria, The Guardian reports.

Besides, Nigeria’s crude oil production increased from 1.792mbpd in February to 1.810 mbpd in March. OPEC and its allies including Russia are keeping crude oil supply limits in place in 2018 to reduce a price-denting glut of oil held in inventories.

Nigeria’s Bonny Light attained its highest level at $72.73 a barrel, a little higher than Brent crude oil, which sold for $72.58 per barrels during the trading hours on Friday. Bonny Light oil is a high grade of Nigerian crude oil produced in the Niger Delta basin and named after the prolific region around the city of Bonny.

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