Not only are the current views contradictory but each is supported by arguments and evidence, which increases the confusion and frustration of anxious listeners worried about their economic future. Continue reading “Are Oil Prices Rising or Falling?”
OIL PRICE – WHERETO?
OPEC announced on Nov 30, 2016 an agreement to cut its total oil production by 1.2 Million barrels per day to bring it to 32.5 mill b/d, as off Jan 2017. Overnight, Brent oil price spiked by 9% to around US$ 52. The next step is for OPEC to obtain and extra reduction of 600,000 b/d from Non-OPEC producers. Continue reading “OIL PRICE – WHERETO?”