OPEC And The Aftermath of Hurricane Harvey Could Drive Energy Prices Higher

Energy prices have been battered for some time now. However, we could start to see a bounce in crude oil and gas prices due to the potential fall in supply, coupled with increased demand due to OPEC’s production cuts and Hurricanes Harvey and Irma. We’ve seen crude oil prices hovering below the $50, but this could change quite soon.

Moreover, natural gas prices have been trading above $3 due to the increased demand and fall in supply after Hurricane Harvey hampered refineries and pipelines in Texas and Louisiana.

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