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Why oil prices are rising

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Oil prices have been climbing, reaching the highest level since 2014. CNN's John Defterios explains what's driving the rise.
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Text Comments (70)
iranwarcom (21 days ago)
It’s war time with Iran u numb skull
pursharth sharma (25 days ago)
https://youtu.be/irO3v8lcHy4 Same topic explained in Hindi .
Senal Perera (2 months ago)
Saudi Aramco is planning to go public this year. they like the oil prices going up
Vinu Ratnayake (4 months ago)
US needs to stay the fuck away from countries. Every country they get involved in ends up getting destroyed
Biplab Halder (4 months ago)
Want more and more hike the price of oil. That's why man can not efforts oil. Results will bycycle, battery, solar and related other industries will develop future. Will pollution free world. People will get more life.
UMKW invecivel1 (4 months ago)
Bullshit!!! They do this every year specifically around this speciffic summer and traveling time of the year. For no reason other than increasing profits by asking thede fuckers here to lie for them and make up a crises reason that is not there. LOOK WHAT THE PEOPLE IF BRAZIL ARE DOING ABOUT THIS BULLSHIT. THEY HAD ENOUGH.
Hamza Aman (4 months ago)
Oil wars....
Jayde L (5 months ago)
One day Mother Earth will take it all back...
Shawn Afshar (5 months ago)
Just more of a reason why electric cars need to take over
400lb HACKER sitting in my bed (5 months ago)
Enjoy your tax break! While my billionaire friends and I at OPEC, the Middle East, Netanyahu, Putin, Kim Jong-Un, Xi Jinping, the Sadi Prince, and Jared Kushner make money off your back. I also informed all of my billionaire cabinet members that I would be doing this so they could invest in oil to become even richer without paying taxes so you could make them richer have a happy summer. Thanks again, Donald Trump. PS isn't that the way it works? Brilliant."believe me" "incredible," "Winning", "historic," "we're going to round you all up in a nice humane and squeeze everything out of you that we can. this is the way I am   making America great for billionaires again.
TProgressASAP (5 months ago)
why talking about higher oil prices, i have an electric car i dont care if these PETROL heads are screwed.........
James Johnson (5 months ago)
You forgot The Canadian government wants to keep millions of barrels inside the ground in the third largest Reserves in the world.
monarch1957 (5 months ago)
All it is ,is a RIPOFF> there is no need to charge $70 a barrel for oil. $50- %60 is more than enough. You are just going to kill the ecomony if oil prices are not rolled back.
이명후 (5 months ago)
artifical producing by chemical with environmental produving repitie or repute of layer in land that artifial
Tanish Jain (5 months ago)
Increase in oil price is the reason for the fall of India rupee as import prices are increasing,if the rupee keeps going down like this daily products will be costlier
Tanish Jain (5 months ago)
Simple reason for oil price increase United States drank all of it
lissa leggs (5 months ago)
Trump and his oil buddies is the reason...
MSNPC (5 months ago)
'CNN money' the only partially real part of their fake news network operations..👏👏👏
GPO (5 months ago)
Tell that to opec. They are not pumping oil on purpose otherwise the price per barrel would be around 20usd
Adam Smith (5 months ago)
Cost of producing a barrel is around $50-$60 a barrel, the price is not outrageous until it hits over $100 which I don't think will happen since the US is a big oil producer now unlike in 2008 when we bought every drop of oil from OPEC.
william 4 (5 months ago)
GPO u want oil at 20$ per barrel means cheaper than subway sandwich,the cost of producing a barrel is above 20$, u r so stupid
Walden Smith (5 months ago)
CNN Money. Great report on the laws of supply and demand. I recently released my Youtube video on Money titled Giving and Receiving can be accessed with rev. waldensmith. No obligation but thanks for viewing these timely messages if you can on Money etc prepared to bring hope, encouragement, inspiration etc from a different perspective.
Justin Y. (5 months ago)
BITCONNEEEEEEEEEEEEEEEECCCCCCCCCCCCTTTTTTTTTTTT
Dani (5 months ago)
Loooool CNN Bullshit. China just cut its imports from Saudi Arabia by 40% for the second month in a row. Costing Saudi a huge loss. Why? Because they claim the hike is "unjustified" . They know Saudis ambitious plans need funding and their failing wars in Yemen need funding. So Saudi decides to screw the whole planet for threir own games. But that God for the Chinese who are so logical.
S S (5 months ago)
Thanks Obama.
S S (5 months ago)
And I'm being sarcastic you crazy internet trolls you 🙄
Master Kush (5 months ago)
I smell a war
slhines7 (5 months ago)
Rigged markets are more than likely a *BIG* factor.
Derek K (5 months ago)
I came here just so I could dislike another CNN video. Down voted 👎🏻Bush would be proud with my level of mission accomplished.
LCarlTBM x (5 months ago)
It's because capitalist pigs are greedy for more money. I just watched the entire video. Let me rephrase what I said. It's because American capitalist pigs want oil hegemony. Fuck them.
Mr. Z (5 months ago)
Obamas fault.
Charan sv (5 months ago)
Trump is the current US "PRESIDENT"
peter lee (5 months ago)
Trump is cutting green energy, air and water pollution, and will end solar and wind power energy spending. He's also planning to get rid of the tax incentives to buy electric vehicles. Coincidence? I don't think so. With Trump and Republicans is drill, drill, drill. And the rest of us is cough, cough, can't breathe.
Patrick Reardon (5 months ago)
Adam Smith oh okay Adam. Thanks for the reality check. Guess we should keep drinking the coolaid. Hey, how are all those hurricanes affecting your country? How are heat waves and cold snaps working out? Harvey 2017 (125bn) Katrina 2005 (129bn), Maria 2017 (90bn), sandy 2012(65bn) Irma 2017(50bn) etc etc... Statistically aggressive hurricanes are more prominent than ever. What about the cost of war to secure this energy? 4.8 trillion for Afghanistan, Pakistan, Iraq. The current wars are being paid on borrowed moneys. Some estimates project interest at 7.9 trillion by 2053. If I'm such a moron, retard, then why doesn't this make sense to me when we could have pumped all of that money into a new energy economy and employ millions of Americans and be completed energy independent? Maybe you just aren't that smart enough to consider the bigger picture because you're just a puppet of the system....
Adam Smith (5 months ago)
Drill drill drill is why gas prices aren't at $5 a gallon retard. In fact the USA is now on track to out produce Saudi Arabia in late 2018 and beat Russia in 2019 becoming the world's largest producer of oil and it's all thanks to Obama not listening to morons like you.
Patrick Reardon (5 months ago)
J OneLife Huh? We have about 6-8 different models on the road since 2008.
J OneLife (5 months ago)
Canada won't approve the electric car...many want to buy it..
Patrick Reardon (5 months ago)
The thing is, he's entirely right. You can either be smart, and adapt or continue griping about it and piss away all your hard earned money.
MR SINGH (5 months ago)
Good opportunity for Elon Musk to make cheap hatchbacks with durability for other nations and earn big profits.
Joe Mitchell (5 months ago)
Trump is helping Putin... No more need for oil. We need to commit to a switch!
Joe Mitchell (5 months ago)
What am I providing proof for? A google search? Try searching How Google Search Works | Search Algorithms. Idiots...
sir robert (5 months ago)
Joe Mitchell that's bullshit provide proof or change your name oh I mean Cnn fake news and PMSnbc have dribbled out fake news but go to real sources , your name suggests that you are from northern England , and Ireland your heritage is fighting a oppressive government
Orangutan (5 months ago)
Joe Mitchell and your evidence for that?
Joe Mitchell (5 months ago)
Google search algorithm probably lead you to conservative sites anyway. So all of those Faux News and Alex Jones headlines don't really count, do they? EVERYONE ELSE reported Trump's determination to stop the sanctions! It's not everyone else who's lying here...
Joe Mitchell (5 months ago)
Every headline reads Trump is stopping all the sanctions on Russia. How F N dare you sit here and bold face lie like a child and have the nerve to call me a child! Republicans these days really are deplorable...
Orange Cheetolini (5 months ago)
Greedy bastards
梁浩 (5 months ago)
If oil prices drop, how can Saudi Arabia buy US weapons?LOOOOOOL
sir robert (5 months ago)
梁浩 with the gold they stolen
Ries (5 months ago)
梁浩 you got it
xxnike629xx (5 months ago)
Basic business. High demand, low supply...maximum profit. This is a big problem, and they really should stop dramatically increasing the price. It's probably why these big oil companies are worried about the flood of electric cars being adopted more as prices for these electric cars goes down and the cost of owning one goes down.
Patrick Reardon (5 months ago)
Great. Time to transition away from oil. We have the solutions now. Especially since solar is now cheaper than oil as an energy source.
Patrick Reardon (4 months ago)
Saral Thakur other uses of oil amount to a fraction of the total consumption and therefore I say this in reference to transportation and energy only. Thanks.
Saral Thakur (4 months ago)
Patrick Reardon Oil isn't just used for that.
Patrick Reardon (5 months ago)
Adam Smith okay Mr. generic. Keep on keeping on, and keep buying gasoline.
Adam Smith (5 months ago)
No we don't, while electrics have come a long way they still suffer from range and charging time. If we just develop better battery tech that lasts longer and takes less time to charge buying an electric would then be a no brainer (at least for standard cars and crossovers, trucks and larger SUVs will be gas based for a while)
Patrick Reardon (5 months ago)
Mike Jones click the link I posted and tell me why then. I mean you're the smart guy here..