A recent article on the Wall Street Journal’s Moneybeat blog cited several factors that are contributing to an increasingly bullish outlook for oil prices. Having gained 22% in the past 12 months, U.S. crude oil futures are set to benefit from demand growth that could well exceed supply increases. Given the geopolitical risks looming in important oil-producing nations like Iran, Iraq, Libya and Venezuela, “global oil supply disruptions could materially increase in 2018” according to a Citigroup analysis.
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