An Oil Price Rally Is Likely
As long as OPEC keeps the current production limits in place, the oil market will continue to tighten, even after taking into account U.S. shale growth
By Oilprice.com -- Nick Cunningham—— Bio and Archives--April 3, 2018
Global Warming-Energy-Environment | Comments | Back To Full Article
Oil prices seesawed at the start of the week before jumping close to multi-year highs on geopolitical concerns, with Brent hitting $70 and WTI at $65. However, geopolitical pressure is only able to influence oil prices to such a degree because the market is fundamentally getting tighter.
Ongoing declines in Venezuela and concerns about heightened tension between the U.S. and Iran have significantly raised the risk premium for oil, even as some short-term factors recently pushed up prices. Welcome to CFP’s Comment Section!
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