World-Signals Team
World-Signals
The record prices of the Crude Oil are about the end. The Crude Oil price is in uptrend since July 2017. Several factors support the high oil prices as the major is the agreement between Russia and Saudi Arabia. The explosion of Libya’s pipeline and the world economic growth also support the rising oil prices.
The end of the high oil prices may come soon as the reason is United States plan to raise oil production to a record levels. This is the plan of Trump administration and is cause of necessary to stimulus the United States economy. Trump decided to thaw the absorption of the US shelf, permitting exploration and extraction of oil and gas there.
The Crude Oil price New York is at $63-$64 and may up to $68-$70 according to World-Signals.com forecast before start downtrend to normal levels of $53-$58.
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