In spite of the US’s drive towards energy independence in recent years, the world remains depressingly reliant on OPEC for oil
Just when we thought inflationary forces were softening, the price of crude oil has shot up sharply on Monday in response to an announcement by OPEC that it will try to reduce production. A barrel of Brent crude, which touched $120 last summer before falling back to $75 last month, reached $85 at one point yesterday. Some analysts expect it to hit $100.
