Crude Oil Forecast: Price Increases 19% In 14 Days
Crude oil prices surged 19% in four days since last Wednesday, the largest four-day percentage gain since 2009. Oil had tumbled from more than $107 to less than $45 a barrel in seven months due to slowing demand growth and a global supply glut. The United States became the world’s biggest crude producer because of new technologies, and the Organization of Petroleum Exporting Countries (OPEC) decided not to curb their own supply to prop up the price. However, developments in recent days have pointed to an eventual slowdown in oil production, causing the price to rebound in a market pullback. 
