Global prices are in the news again with prices having soared in the past year. Prices may fall in the next few months as oil producers like Saudi Arabia and Russia increase supply to maintain or reduce higher oil prices at least temporarily.

The following chart shows the real price of oil since 1861 and the recent uptick:

Click to enlarge

Source: Natural Resources – Opportunities Amid a Secular Commodity Downturn, Shawn Driscoll, T.Rowe Price