03.12.2012 - Crude oil price likely to hike in 2013
Looking at the record of crude oil in 2012, it is likely to go down into the oil history. It is not just the exceptionally frequent supply disruptions. Also there is no shortfall in production that is large enough to affect global oil markets in a significant manner. Such resilience appears to be misleading, especially in part to the sorry state of the global economy. For instance, the havoc wreaked by hurricane Sandy on US product distribution is the latest in a string of glitches spanning the oil map and supply chain. Mishaps from Brazil to Yemen cut non?organisation of the Petroleum Exporting Countries (Opec) crude supply by a substantial 1.3 million barrels of oil per day in the third quarter of 2012...............................................Full Article: Source
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