General News | Oil & Gas Prices
Oil Prices See Boost Thanks to OPEC Supply Cuts, US Sanctions
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Oil prices saw a boost on Friday thanks to continued supply cuts by OPEC as well as US sanctions placed on Iran and Venezuela.
WTI crude hit $60/barrel this week, its highest point since November 2018.
Several investment banks are predicting that prices will continue to climb as the year progresses.
OPEC is holding strong on keeping oil supply suppressed despite Trump's pressure on the cartel to increase its output due to "oil prices getting too high." Analysts predict that OPEC members such as Saudi Arabia will likely continue to ignore such demands.
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