Due in part to increasing tensions with Iran, crude oil prices have been rising. For some perspective on the globe’s crude oil supply, today’s chart focuses on the big five oil producers. Of the big five, Russia and Saudi Arabia have significantly increased production as of late. However, it is worth noting the continuing decrease in US oil production as well as ongoing geopolitical tensions (i.e. Iran, Iraq, Nigeria, etc.), does leave open the possibility of supply disruptions in an already tight oil market. Stay tuned…
Source: Chart of the Day
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