The price of a barrel of oil surpassed $90 for the first time in 10 months in early September, after Saudi Arabia and Russia extended voluntary cuts in supply until the end of the year.
The price has kept rising since and is near $95 a barrel mid-month.
The voluntary cuts by Saudi Arabia and Russia are on top of production cuts already agreed by them and other members of the Opec+ oil cartel, which are due to last until the end of 2024.
Analysts are predicting $100 a barrel in the near future - that doesn’t seem too much of a stretch.
