The OPEC War

After a fight between Saudi Arabia and the United Arab Emirates, oil jumped to a six-year high as Saudi Arabia raised oil prices. The fight brought an end to OPEC supply talks escalating into a price war with international consequences at a moment in which it could hurt global economic recovery and increase inflation.

At the moment no agreement has been reached on a possible increase in crude production beyond the end of July.

Oil pricing affects pricing in most products and therefore, this could have a domino effect on certain industries.

For questions, please reach out to our team at www.lyonbern.com