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Commodities Briefing - Categorized | Oil more

Why is the oil price still so high?

Posted on 24 October 2011

Four months ago, the world’s energy watchdog took historic action to reduce oil prices. Since then, the financial outlook has considerably worsened and some Libyan oil has returned to the market. But the price has remained above $100 a barrel.
Releasing 60m barrels of reserves was meant to dampen the high price of $113 per barrel, attributed to lost ouput from war-torn Libya and worries that the Arab Spring could spread to more oil producers………………………………………Full Article: Source


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VRS - who has written 37214 posts on Opalesque Commodities Briefing.


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