28
Feb
Tujoromajo Kasuto Oil prices have risen to the highest historical levels because of rising global oil prices fuelled by the war between Russia and Ukraine. Non-oil producing countries such as Namibia are price-takers and can only adjust their prices according to the prevailing prices. Crude prices jumped to just over 100 US dollars a barrel the highest since 2014 after Russia invaded Ukraine last week. Andrease Simon, spokesperson for the Ministry of Mines and Energy, says that while current oil prices appear to be unsustainable, the Namibian nation must remain strong to survive because it has found itself in a…