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Summary :In 2018 we have seen a distinct rise in the prices of oil. Last week the price per barrel hit $80 the highest in four years, and it's projected to rise to $100 in the coming months. This is not unexpected as the global economy has been running very efficiently, and thus more consumers leading to more demand and a spike in oil. Unforeseen events, such as the crisis in Venezuela & Trump's decision to pull out of the Iran Nuclear Deal have had some negative effects; however, economists predict that, barring any new geopolitical shock, oil prices will fall again as we move into 2019. The federal reserve plans to triple interest rates, and OPEC's firm hand on oil supply will even things out and lead to less demand and more supply.
Analysis: I think that examining the economy and how political action and social ideals can affect the global economy drastically. It's kind of annoying that gas prices are going up, but you know I'm hopeful that this articles predictions are correct and that in the coming months everything will even out.
Synthesis: Middle Eastern Oil Embargo, Iraq, OPEC, NAFTA.
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