Oil price starting to move toward USD 70 again
It is not quite there yet, but after a dive around New Year, the oil price is now moving past USD 65 per barrel and is thus inching closer to the USD 71 per barrel which was the average price last year. Good for offshore investments. Bad news for shipping.
Even though the US is breaking one output record after another month by month, the country's shale boom is not strong enough to derail OPEC and force the price down.
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