Oil Prices rising in the Middle East

Oil prices have risen in the past week because oil producers are worried that Israel's attacks on Hamas will disrupt and prevent further oil production. Earlier last year, OPEC announced that it intended to reduce oil production by at least 10 million barrels a day in order to keep the price of oil from dropping. Now, due to recent fears of the oil producers they have risen the price of oil along with the production costs. The average price for a barrel in America has risen $1.22. Prices are slightly rising in the US. In October, the US demand for oil dropped by 833,000 barrels a day.