The price of crude oil has increased nearly 50% in the last year and is forecast to reach $70 per barrel in 2017.

What’s more, the market is expected to experience a significant rebound this year.

Here’s a look at the five most common reasons why oil prices are high.

Oil prices are soaringOil prices have skyrocketed since 2014, when the price of Brent crude oil jumped from $46 per barrel to $85 per barrel.

The oil price has been increasing steadily since then, and the oil price continues to rise as the price rises.

But the price is not going to be as high as it was before the crisis of 2014.

In fact, oil prices have already climbed more than 70% in 2017, according to data compiled by Bloomberg.

The reason is simple.

Since the crisis in 2014, the cost of production has increased substantially.

A combination of factors has driven the increase in oil prices.

The main reason for this increase is the increase of demand for oil.

The World Bank has noted that the demand for crude oil in the world increased by nearly 80% from 2008 to 2015.

The rise in oil demand has made oil prices soar.

The increase in production has also increased oil prices, as it is a sign of a healthy market.

The number of wells being drilled has also risen in the US and China, both countries where oil prices can soar.

The boom in oil production has not been limited to the US.

In the UK, the oil and gas sector has seen an increase in output, according the Independent.

The sector has also seen a rise in demand for production in the UK as the UK’s shale oil production booms.

However, it’s the UK that is experiencing the highest rise in prices, and that is largely due to the increase, in prices of oil.

According to data from, prices of Brent oil have been rising in the country since the start of this year, from $42.70 per US barrel in 2015 to $50.95 in 2017 — an increase of more than 400%.

The price is now forecast to go higher than $60 per US bbl in 2018.

The surge in production in China has also been a huge driver of the oil prices in the Asian country.

In 2017, the Chinese government announced a reduction in production of shale oil and natural gas, which has pushed up prices by an average of about 1,000%.

The decrease in production led to a rise of oil prices by more than 600%.

The reason for the huge increase in price of oil in China is not a shortage of crude, but rather the growth in oil exploration.

A lot of exploration is taking place in the Chinese province of Ningxia, where there is a lot of oil and a lot is currently in production.

The price for oil has risen by about 200% since 2015, according a report by the International Energy Agency.

The reason why oil is rising in China, is not due to a shortage, but due to rising production.

According the report, there are around 1,200 oil rigs operating in the province of Jiangsu, and this number has been growing by about 40% per year.

The average number of rigs is around 5, and is growing by more and more.

The price of natural gas has also jumped since 2015.

The gas price has increased by around 150% from 2015 to 2017.

It is now more expensive than oil, but it is still more affordable than crude.

The difference between the two prices is about 60% due to different taxes, subsidies and infrastructure investments.

The real reason why the price in the oil sector is so high in China are the increased number of companies looking for investment.

The government is investing in infrastructure and new energy projects.

The Chinese government has also introduced tax incentives for the energy sector.

The increase in companies looking to invest in the energy industry is part of the boom in energy exploration in China.

As more companies explore oil, the price goes up, and more companies invest in energy projects, such as shale gas exploration.

The global financial crisisThe global oil price crash in the early 2000s led to global financial markets crashing.

The financial crisis, which began in 2008, has led to huge financial losses for the countries, but there are still some countries that are doing well, according some experts.

In the UK alone, there have been several countries where the oil market has recovered.

In Norway, the country has been able to recover, and oil prices were around $60 in January 2018.

In Italy, the energy price is around $30, and in France, it is around 40 cents.

These are the two most important countries in Europe, but in some other countries, like the US, prices are higher than these figures.

The oil price rise is also due to increasing supply.

In Saudi Arabia, for example, the production of oil has actually increased by more 200,000 barrels per day.

In Russia, the industry has increased its output by more over 200,0000 barrels per month, according data from the oil