ce June and defying those who argued that oil would be capped at $60 this year by higher output from the US shale industry. The rising price of crude reflects the success of OPEC's output cuts and booming demand as the world enjoys near-synchronized economic ic growth. Saudi Arabia the largest producer in OPEC is also in focus currently, with the arrests of at least 11 Saudi Arabian princes and dozens of ssenior enior officials and businessmen raising tensions in a country responsible for roughly one in every nin nine crude oil barrels pumped globally....