we have been hearing that oil might cross $150 a barrel. some years ago the US had attacked Iraq, without any staunch reasons. I believe Iraq was one of the main contributors of Oil to OPEC and in turn to the world. Today since Iraq has not yet started production of oil.. the statistics tells it all... So as the old sayings goes, as you sow so you reap.
In addition to that major oil producers accept only in terms of $, now since the $ has gone weak so has the crude grown from strength to strength.
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