Energy Consultant, Dr Yussif Sulemana has predicted that oil prices on the global market are likely to hit US$60 per barrel in the first quarter of 2021. Currently, Brent crude oil is selling for about US$55.78 dollars per barrel increasing by a little over four dollars since the start of the year. Dr Sulemana in an interview with Citi Business News elaborated on the likely causes of a potential increase in the price of crude on the global oil market. âThe OPEC plus member, Russia and OPEC de facto leader, Saudi Arabia seemly are now in agreement and this agreement started in the first quarter of 2020 that they are going to reduce up to 9.7 million barrels taken out from the global basket and that was significant. So that amount is still in place. OPEC reduction holding, vaccines in the horizon and the vibrancy of the Asian economies are the three things accountable for these bullish sentiments in the oil prices,â he said.