As the oil price trend continue to affect the global market, everyone is trying to find out some means on how to counter and at least try for a new solution for the alarming high oil price. But, before doing so, one could probably check out what's the reason behind the increasing oil price.
On May 13, the price of a barrel of oil briefly hit a record of $126.98 on the New York Mercantile Exchange The reason was ostensibly that Iran was cutting oil production. But there is no gas shortage. So why are prices still going up?
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