Oil prices are likely to peak sooner, rather than later

Image of a crude oil mine from pixabay by Anita Starzycka
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There are two main reasons crude oil prices keep rising. The first, of course, is demand, and the other is control of supplies by OPEC. Demand for crude oil is set to top out in the longer run with increasing use of renewables, reduced use of automobiles by millennials and similar developments. In the shorter run, the higher crude oil prices go, the more do alternate sources of oil - like fracking and increasing supplies of LNG and natural gas.

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