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Commodities Briefing - Categorized | Oil, Price Watch more

Oil production tumbles faster than expected

Posted on 26 January 2009

From FT: Global oil production is falling faster than market expectations as production cuts by Opec members coincide with a sharp slide in supplies from some producers outside the cartel, raising the prospect of a price rise.

In spite of the drop in supplies, oil prices remain stuck in the mid-$40 a barrel range depressed by weak consumption and worries about the economic crisis. However, traders in the physical oil market said supplies were now beginning to drop into balance with falling demand….. Full Article: Source


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