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Nairaland Forum / Nairaland / General / Business / Crude Oil Price Rises To $74, Highest In Four Years (8241 Views)
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Re: Crude Oil Price Rises To $74, Highest In Four Years by NairaMaster1(m): 4:27pm On Apr 20, 2018 |
Truth234: Really? You forgot that the US strike on Syria has effects on global oil price? |
Re: Crude Oil Price Rises To $74, Highest In Four Years by CofOLandOfPeace(m): 5:23pm On Apr 20, 2018 |
somehow: |
Re: Crude Oil Price Rises To $74, Highest In Four Years by Truth234(m): 9:28pm On Apr 20, 2018 |
NairaMaster1: Not at all, Syria oil production has dropped over the years. I mean the nation has been at war for more than 7 years. Hence, they have little to no effect on global supplies. It was OPEC and non-OPEC agreement to artificially bolster oil prices by capping production of members that aided current rebound in global crude oil to $70 but what pushed it to 74 yesterday was the announcement by OPEC that they will look to extend the accord when they meet in June. However, another report came out later on Thursday that the group may not extend giving the effectiveness of the current agreement. |
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