Oil Pricing and Volatility in a Macro and Micro View
On September 24, 2018, global oil prices hit a four-year high of $81.20/b (Brent) after OPEC promised to keep production steady. Investors believed that U.S. sanctions against Iran and outages in Venezuela would lead to supply shortages. But by mid-November, prices fell 18 percent, and have continued a decline.
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