| Brent crude oil prices fell below $100 per barrel last week and there is a likelihood of prices faling to $96.75 and $95 per barrel, Barclays Research said. The market is adjusting to a situation when there is ample light sweet oil supplies amidst a relatively softer global oil demand growth, Barclays added.
As the OPEC basket price touches $96/bbl (levels last seen in June 2012), the clarion call for balancing the market from the supply side is growing louder. The resolve from individual OPEC members, and the pace of their reaction, looks set to be tested over the coming months as they choose to collectively defend $100/bbl or individually maintain market share...............................................Full Article: Source
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