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Tuesday, 1 May 2018

Oil at $75: five factors driving the price

Oil at $75: five factors driving the price:

"Oil prices have risen as high as $75 a barrel for the first time in four years. But what has driven the rally and will it continue?

Here are the five key areas to watch.

1. Supply and demand

The simplest reason for the rise in oil prices is that markets have tightened markedly over the past 18 months. Inventories of crude that had built up during the glut of 2014-16 have largely been worked off because of strong demand driven by a booming global economy and supply cuts by Opec and Russia."

'via Blog this'