Oil prices creep up as the global economy grows
With the world’s major economies chugging along, people are using more oil. That means more demand for crude, just as some places that supply it are cutting back. Some production cuts are intentional — like Saudi Arabia’s — but other hiccups in supply are due to political chaos, like Venezuela. If U.S. fracking steps up to fill any supply gap, that could drive the price back down.
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