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Commodities Briefing - Categorized | Oil, Price Watch more

What could bring oil prices down?

Posted on 06 February 2014

The price of WTI oil has been trading close to the $100 mark in recent months. But the latest developments in the oil market might cut the price of oil down to the low $90’s in the near future. Let’s examine the recent changes in the oil market and see how they might affect leading refinery companies.
The oil market loosens: According to the U.S. Energy Information Administration, during January refinery inputs declined by 3.2% to reach 15.6 million barrels per day. Conversely, the U.S. oil supply has improved: During the past month, oil imports increased to 7.61 million barrels per day — a 2.8% gain. Further, oil production inched up by 0.1% Thus, the total supply (comprised of imports and production) increased by 1.4%………………………………………..Full Article: Source


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VRS - who has written 38538 posts on Opalesque Commodities Briefing.


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