After declining in the first half of 2017, crude oil prices have taken off pretty well since mid-June due to multiple favourable factors. The production discipline of both, Organization of Petroleum Exporting Countries (Opec) and non-Opec nations, led to global inventories declining through 2017.
This coupled with disruption in US crude oil production due to Cyclone Harvey in August and geopolitical issues in West Asia have contributed to a significant rise in crude oil prices during the second half of 2017. Brent crude, which saw a low of $44.2 a barrel on June 22, is now trading above ...
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