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Positive news surrounding the COVID-19 vaccine rollout has led to a rally in oil prices, which were up 75% from November of 2020 through March of 2021. With questions about demand lingering, Saudi Arabia announced a surprise reduction in oil production. OPEC+ has stated that they support a reduction of global oil inventories, which is expected to provide a tailwind for oil markets going into the first half of 2021. Now, we wonder, is another commodity super cycle next?
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