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1. • • Oil prices have surged after several of the world's largest exporters announced surprise cuts in production. The price of Brent crude oil is trading close to $85 a barrel after jumping by almost 6%. Economists warned that higher oil prices could make it harder to bring down the cost of living.
     www.bbc.com/news/business-65157555

     Oil prices surge after surprise move to cut output - BBC

2. People also ask

   Why did crude oil prices pull back from highs?

   • Crude oil prices pulled back from their recent highs after the Federal Open Market Committee (FOMC) took a hawkish tone at its September meeting, emphasizing investors should be prepared for interest rates to remain higher for longer and projecting one more rate hike by the end of the year.

   Why Is The Price Of Oil Rising? – Forbes Advisor

   www.forbes.com/advisor/investing/high-oil-prices/

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   Will oil prices rise next year?

   • “The oil price is only likely to climb more lastingly once the economic outlook begins to brighten, which should be the case next year.” Another factor is financial speculation, and it appears investors are piling into the oil market with bets that prices will rise.

   Oil prices have risen. That's making gas more expensive for US drivers

   apnews.com/article/why-have-oil-prices-gone-up-a9f4ddbd815dd6c6fd90698443e7b8b3

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   How have oil companies reacted to rising oil prices?

   • In the past, U.S. oil companies reacted to rising oil prices and tight supplies by aggressively investing in ramping up oil production. This time, they seem to be taking a much more cautious approach. The number of operating U.S. oil rigs dropped by eight to 507 rigs for the week ending September 22, its lowest level since February 2022.

   Why Is The Price Of Oil Rising? – Forbes Advisor

   www.forbes.com/advisor/investing/high-oil-prices/

   See all results for this question

   Why do oil prices go up and down in cycles?

   • Oil prices go up and down in cycles, and there are several reasons prices could fall in the next few months. The pandemic is far from over, and China has shut down several cities to stop the spread of the virus, slowing its economy and demand for energy.

   Why Are Oil Prices So High and Will They Stay That Way?

   www.nytimes.com/2022/02/02/business/economy/oil-price.html

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3. www.forbes.com › advisor › investingWhy Is The Price Of Oil Rising? – Forbes Advisor

   www.forbes.com › advisor › investing

   • Cached

   Sep 28, 2023 · Brent crude oil prices have risen more than 30% in the past three months and are now trading near $93 per barrel, levels not seen since November 2022. Gasoline prices have followed suit and...

   • Author: Wayne Duggan

4. www.nytimes.com › 09 › businessWhy Oil Prices Have Been Rising Recently - The New York Times

   www.nytimes.com › 09 › business

   Apr 9, 2024 · The price of a barrel of Brent crude oil, the international benchmark, has risen more than 20 percent since mid-December. It has jumped more than 10 percent over the past month alone, to...

5. Videos

   • 

     weforum.org

     Why do oil prices matter to the global economy? An expert explains

     Feb 15, 2022

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     investopedia.com

     What Is Crude Oil, and Why Is It Important to Investors?

     Dec 31, 2008

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     weforum.org

     Inflation: How are rising food and energy prices affecting the economy?

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6. www.cnn.com › 2023/07/28 › energyWhy oil prices are on their strongest run since before Russia ...

   www.cnn.com › 2023/07/28 › energy

   • Cached

   Jul 28, 2023 · The price of Brent crude, the global benchmark, ticked down 0.1% to $84 a barrel in Friday, but is still up 3.9% this week. The winning streak is the longest since an eight-week rally ended in ...

7. www.cbc.ca › news › businessANALYSIS | Oil prices are rising — so why is Canada getting ...

   www.cbc.ca › news › business

   • Cached

   Jun 8, 2022 · Oil prices around the world have risen to their highest levels in years, but Canadian oilsands producers are seeing comparatively less for every barrel because of imbalances in supply and...

8. apnews.com › article › why-have-oil-prices-gone-up-aOil prices have risen. That's making gas more expensive for ...

   apnews.com › article › why-have-oil-prices-gone-up-a

   • Cached

   Sep 25, 2023 · FRANKFURT, Germany (AP) — Oil prices have risen, meaning drivers are paying more for gasoline and truckers and farmers more for diesel. The increase also complicates the global fight against inflation and feeds Russia’s war chest.

   • Occupation: AP Business Writer

9. www.nytimes.com › 2022/02/02 › businessWhy Are Oil Prices So High and Will They Stay That Way?

   www.nytimes.com › 2022/02/02 › business

   Feb 2, 2022 · Crude prices rose more than 15 percent in January alone, with the global benchmark price crossing $90 a barrel for the first time in more than seven years, as fears of a Russian invasion of...

10. www.ft.com › content › 51871e72-4e46-4eab-afb6-e29cfWhy oil is back to $90 a barrel - Financial Times

    www.ft.com › content › 51871e72-4e46-4eab-afb6-e29cf

    Sep 15, 2023 · Oil prices have climbed back above $90 a barrel in recent days to their highest levels in 10 months. The rise has sparked fears of resurgent inflation that could damage a global economy that...