| Rising non-OPEC supply and weak demand growth will exert downward pressure on oil prices in 2013, the Centre for Global Energy Studies stated. In its report CGES said that oil prices are currently being supported by the world's need to rebuild inventories from the very low levels they reached by late 2011 and, more recently, by rising geopolitical tensions in the Middle East.
"With inventories now recovering, downward pressures on oil prices are beginning to emerge," CGES said...............................................Full Article: Source
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