Strong Fundamentals Suggest Oil Prices Will Continue to Climb

Crude oil prices look set to climb higher this week and the rise could extend into the coming weeks as well, analysts are predicting. The question on everyone’s minds: how high would OPEC let oil climb before rolling back the output cuts? “Strong market fundamentals are pushing oil prices higher this week, on track for four consecutive weeks of increases,” Rystad Energy’s global markets analysis director Claudio Galimberti wrote in a note this week. “Lower crude exports from OPEC and Russia, just as refinery…