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Needles and Crude12/6/2020 Image: Christopher Burns on Unsplash
The recent vaccine news and encouraging public sentiment occurred in the period as the OPEC negotiations. 500,000 barrels per day of the sweet stuff will start in January. Optimism for a recovering economy and people driving to jobs to use loud machines has spurred oil price activity. WTI Crude was 37.14 USD on November 6 and will open tomorrow at 46.09 USD. Rising oil prices means rising demand means more independence. Let's get this thing going again. |