It has been a wild ride for oil prices. November 4th, 2017, prime minister of Lebanon Mr. Hariri resigns, at night missiles from rebel occupied Yemen can be seen hurtling across the sky of Kingdom of Saudi Arabia. What begins next has been widely covered by all the major media outlets.

Despite seven weeks of inventory withdrawals, the global oil market has failed to translate this effect into a sustainable and significant oil price increase.  Doubts remain.  As reported, OPEC production has edged up. The compliance rate among OPEC and NOPEC members of the Vienna deal, extended to March 2018, has fallen. US production has added more barrels to global production.

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one are the days to fret over the fact that you have no car and the weather is perfect to dine out tonight. Call yourself an Uber. If you are in China Didi will work. Peer to peer lending, fashion sites like Le Tote allowing women to “rent designer gowns for a special event at a fraction of the price of buying a new one” and Neighborgoods that allow you to borrow resources are changing the way we use to do and perceive business.

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n my last article I covered different prospects/facets that signaled towards the extension of an oil deal. Of late there are developments that not only serve as a testimony to the possibility of an extension but also its probable segue into the year 2018 (until March).

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t has been a topsy-turvy story for the most traded and (politically and economically) significant commodity in the world. Welcome to the world of Crude Oil. Back in 2014 when the war between Sheikhs and Shale begun, Saudi Arabia deliberately balked to play the role of, what has been called, Swing Producer of the world. By refusing to turn off the taps Saudis envisaged a future that will, acting out of the principle of survival of the fittest, drive out high-cost producers (most importantly US Shale).

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t has not been a happy story hitherto for oil markets as the prices continue to be under pressure. The recent inventory build-up of 5million barrels has once again made the total number of stock piles touching a historic high i.e. 533 million.

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he oil markets have just received a long awaited yet unexpected jolt. “No one is yawning now”, as an article in New York Times puts it. The prices plunged 8pc in two days as the report from EIA department showed an inventory build-up of 8.2 million barrels rendering the total inventory at 528 million barrels, the highest in history. Before we move on there are few things to consider making sense of what is happening in the oil markets of-late. How did we get here?

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nternational political observers were shocked by Brexit and then Donald Trump‘s US Presidential victory. These two events are potent enough to unnerve the contemporary global order: first, in matters relating to security and, second as to trade. By the end of next March, Theresa May will likely invoke Article 50 of the Lisbon treaty and the complex process of Britain’s divorce from the European Union (EU) begins.

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f-late the monotonous oscillation of oil prices is making it difficult for writers and analysts to get any sense out of this whimsical trend. After the Vienna Oil deal in November 2016 and after the 21st January meeting between oil producers the oil prices have been moving up and down in the $50-$60 band.

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IA recently reported that this year (2017) will see a highly volatile oil price. From 30th November to hitherto oil prices have seen a considerable upward trend. The prices have fluctuated at times due to the build-up in inventory and increase in the rig count, and at times when the wave of uncertainty swept across the markets---as it did in case of Libya and Iraq. Kuwait, Saudi Arabia and others have reported to be cutting their production as per the agreement.

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