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Commodities Briefing - Categorized | Oil, Price Watch more

Tight supply may push oil price above $100

Posted on 14 January 2014

The tight supply of crude oil in the global market may drive the price of the Brent crude to between $100 and $110 per barrel this year, a report has indicated. Oil output from the Organisation of the Petroleum Exporting Countries (OPEC) had fallen in December to the lowest since May 2011.
The global oil output survey, which was based on shipping data and information from sources at oil companies, OPEC and consultants had revealed that the drop in output left supply below OPEC’s nominal target of 30 million barrel per day (mbpd) for a third month………………………………………..Full Article: Source


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