It will be interesting to see if the oil price will then face resistance as shale production becomes more profitable again when oil prices reach these levels. The domestic price of petrol has increased by R1,49 in the past four months as a direct consequence of the rally in the oil price alone.
Meanwhile, after a rapid decrease during 2015, the prices of our major commodity exports have recovered somewhat since then. After declining by over 26 per cent last year, platinum prices have since recovered by around 15 per cent.