South Sudan Hopes Higher Oil Prices Will Restore Ravaged Economy

Rising oil prices are vital for South Sudan to revitalize its battered economy, as oil revenues are almost all of the country’s hard currency export income, according to South Sudan Oil Minister Ezekiel Lol Gatkuoth. “The oil market is appreciating now very well the oil price is going up its 65 dollars a barrel and yet in South Sudan it’s something we need to cerebrate because our economy is driven by oil. We are going very well in the oil industry,” the minister was quoted as saying on Monday after he returned from the…