| The oil market is in a state of flux, says former Bank of England economist Spencer Dale. Is it now on the road to recovery? The oil market is in a state of flux. Prices have fallen by over 50pc since last summer. The Organisation of the Petroleum Exporting Countries (Opec) seems to have forgotten its lines. There are howls of pain from large and small oil producers alike.
Against such a backdrop, it is tempting to focus on the here and now. Although prices may be down for some years, the world’s demand for energy is likely to increase by almost 40pc over the next 20 years or so, driven by growth in developing economies...............................................Full Article: Source
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