Editor Desk
Aug 15, 20161 min
Oil’s rollercoaster continued this weekend, as prices shot up a respectable 10% in 3 days. Investors are banking on OPEC to freeze supply and end the glut. These assumptions are not completely based on a hunch. An unscheduled meeting of the oil titans in Algeria is fueling speculation that OPEC might finally be taking action. After falling down to below $40 a barrel two weeks ago, oil once again shot up, this time to $45.50 a barrel. However, experts believe that this rally should not be taken unconditionally, as attempts to freeze production have fallen flat before.