Source: CBC News, January 10, 2018
OPEC pact plus crude inventories data push oil price higher
The benchmark North American oil price hit its highest level since 2014 on Wednesday as two new data points came out showing supplies are drawing down, and an OPEC pledge to turn off the taps seems to be working.
A barrel of West Texas Intermediate rose 61 cents to settle at $63.57 US in New York, after having traded even higher earlier in the day. That’s the highest level for the U.S. oil benchmark since late 2014.
