07.05.2015 - Why the oil price will keep rising - in five charts
Oil prices have hit new highs for 2015, with Opec having won its war. Here are five charts which explain why it will keep on going. Oil prices have pushed new highs for 2015 this week and continue to defy the forecasts of many analysts who have tipped prices to return to levels of around $50 per barrel. However, a collapse in drilling work in North America; turmoil across the Middle East and the hope that China's economy will stage a recovery in the second half of this year have all acted to support prices close to $70 per barrel. Here are five charts that prove the Organisation of Petroleum Exporting Countries (Opec) has already won its oil price war that was launched in November...............................................Full Article: Source
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