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WATCH: oil prices to jump in December 2017-Expert

Todd Colvin, senior vice president at Ambrosino Brothers, discusses the oil market, and expects a December hike a “done deal”.

WATCH: Why oil companies remain bullish

Colvin believes the market is realising that since November 2016 when the oil cuts were announced that prices have been moving to reflect the lower production.

Read: Iraq, Iran tensions boost oil buyers’ appetite, demand

He also attributes the feel good sentiment about oil prices to the fluid situation between and coming together of OPEC and Non-OPEC countries. “throw in geo-political tension, weather, and we can see a leaning towards higher oil prices and an exit from the $45-50 range that has been witnessed over the last few months.”