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Commodities Briefing - Categorized | Oil, Price Watch more

OPEC losing control of oil prices due to US fracking (Video)

Posted on 05 December 2013

Until recently, there were concerns the world would run out of oil and gas - but the development of hydraulic fracking has diminished those fears. The US is producing more oil that it imports and this is seriously denting oil-producing countries’ export earnings.
For many years, the OPEC cartel was able to manipulate prices through their grip on supply - however, many forecasts now suggest that in Europe the price of Brent crude may soon fall below $100 a barrel………………………………………..Full Article: Source


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VRS - who has written 34624 posts on Opalesque Commodities Briefing.


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