| Leaders of some of the world's largest oil-producing nations Wednesday pinned current high oil prices primarily on market speculators, just as consuming nations warned that the current increased output levels are being more than offset by supply problems.
Brent crude oil prices are up around 17% this year, and in early March hit highs last seen in July 2008. Fears over a loss of Iranian oil supplies amid rising tension with the West over its nuclear program, in addition to supply losses from South Sudan, Yemen, Syria and the North Sea, have fueled concerns over whether tightened global oil supply can meet demand...............................................Full Article: Source
|