24.02.2014 - Oil price volatility but within bounds
The last time I wrote about oil prices I said the outlook in 2014 is for more of the same as far as prices were concerned. The last few weeks consolidates this view though oil prices have been more volatile. The average price for the Opec basket of crude oils so far this year is $104.71 a barrel as compared to the 2013 average of $105.87 a barrel. The latest price for the basket is about $107 a barrel. Therefore, prices are still expected to be in a range of $100-110 a barrel, an acceptable range to producers and consumers according to a recent interview with Abdullah Salem Al Badri, Opecís secretary-general...............................................Full Article: Source
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