Depreciation of Dollar Brings the Oil Prices Up
December, 22 2016
Oil prices climbed higher driven by depreciation of dollar despite the subdued market in Asian trading on Thursday. On the other hand, crude producer would follow in the agreement to shift output to support the market.
It is forecasted by the chief investment officer, Jonathan Barratt that U.S. crude will rise up to $60 per barrel while Brent prices would increase by 2 to 3 U.S. dollars in the first quarter of 2017. Although this may happen only for a short time because there will be more supply from U.S. shale producers.
