The oil price has reached record highs today, reaching $90 a barrel over concerns that Turkish milita...
The oil price has reached record highs today, reaching $90 a barrel over concerns that Turkish military are preparing to attack Kurdish rebels. However, Investec’s Tim Guinness said the all-time high is not remotely unexpected as the world’s demand for oil continues to be extremely strong. “I have been saying all year that there is a 30% chance that we would see a big spike in the price and the reasons for it are well-known,” he added. Guiness said Opec is pumping between 1.5 and 2 million barrels a day less than it was two years ago and non-Opec countries are not able to make up the s...
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