Will energy prices rise enough to put pressure on inflation?

Jason Schenker, writing an opinion for Bloomberg View, states that oil and gas prices are set to rise in 2018, due to OPEC setting oil production rates at a level that will increase prices, but not to the point to where US shale oil producers will be able to significantly increase supply. This will maximize OPEC profits, while keeping shale oil producers on the sidelines.

If this scenario comes to fruition, we should expect to pay more at the pump, and transportation costs will either put pricing pressure on producers, or those costs will be passed through to consumers. In the end, it all will support a slowly increasing cost pressure that will eventually create a shift in the aggregate pricing of products.

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