| The unravelling of crude oil prices has been the biggest story of 2014. A combination of factors have led to crude oil prices correcting sharply. While demand-supply mismatches happen to be a big reason for the fall, increase in output from non-OPEC oil producing countries have also played a big role in price movements.
The Organization of Petroleum Exporting Countries in its monthly oil market report dated 16 March has given an indication of demand-supply conditions that are expected to play out in 2015. The cartel of oil producing countries says that it has seen price of the OPEC Reference Basket average at $54.06/barrel in February, representing a gain of 22 per cent, on higher demand and expectations that oil prices have hit a bottom...............................................Full Article: Source
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