| As 2013 draws to a close, players in the global oil markets must be reflecting on their fortunes in a year that has been much better than expected. With oil demand rising modestly and supplies plentiful, producers must be fortunate to get the oil prices they have.
Although oil prices were often volatile and seasonal swings most pronounced, the year ended with the price of the Opec basket of crude oil at almost $109 a barrel and the average for the year close to $106. But the price of the basket, which was almost $115 a barrel in the first quarter of the year, declined to $96 in the second quarter before it started its recovery in the second-half...............................................Full Article: Source
|