Oil prices to rise

Investment advisor, Jeph Gundzik says higher oil prices are inevitable.

The recent decision by OPEC to reduce oil production has crystallized the growing influence of geopolitics on crude oil supplies. Despite strong pressure from the Bush administration on OPEC to delay its planned production cut, the position of Saudi Arabia, to reduce supplies, prevailed.

More important than the immediate impact on oil prices, OPEC's action signals the depth to which US foreign relations with Persian Gulf countries have plunged in the year since the US invasion of...

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