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Govt. Keeping Its Eye On Global Oil Prices

NASSAU, BAHAMAS – Government is keeping its eye on the global sale of oil and is hoping a rise in oil prices won’t lead to a spike in prices.

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NASSAU, BAHAMAS – Government is keeping its eye on the global sale of oil and is hoping a rise in oil prices won’t lead to a spike in prices, according to Economic Affairs Minister Michael Halkitis.

International media reports say the price of crude oil has risen.

Saudi Arabia has agreed to cut its output to firm up oil prices after a weekend of tense talk with OPEC which is the group that represents 40% of the world’s oil-producing countries.

This comes as local fuel retailers are pushing for an increase in fuel margins.

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