A few months ago, some investors speculated that Oil prices could reach $100 per barrel in 2018. Sanctions on Iran, shortages in supplies, strong demand, and an all-time low in spare capacity were all factors contributing to driving prices to new highs. This proved to be a bad speculation. After OPEC’s meeting in June, the cartel decided to ramp up production to meet any supply shortages. What happened next was the U.S. issuing eight countries for waivers before sanction on Iran kicks off, global demand seemed to have abated, and production in the U.S., Saudi Arabia, and the United Arab… Read More
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