Oil will continue its upward rise…Why?

Oil will continue its upward rise…Why?
  1. Fracked wells are not producing at the level originally projected.  As they age, well yield is declining 15% faster than forecast
  2. Because of the above, frackers are having trouble raising cash or borrowing money….meaning fewer wells will be drilled in the next years
  3. OPEC, and allied countries like Russia, are holding the line on output
  4. Iran is a wild card.  Backed into a corner by US and other sanctions, it could lash out at tankers or oil infrastructure in the Mid-East
Plan on diesel prices rising in lock step.