Thursday 15 January 2015

OIL PRICES WILL START RISING MID YEAR-EIA

Brent crude oilBy mid-year, oil prices are expected to start rising owing to a more balanced market occasioned by weakening supply and increasing demand, according to the United States Energy Information Administration’s Short-Term Energy Outlook for January 2015 released on Wednesday.
 
For now, price projections reflect a scenario in which supply is expected to continue to exceed demand, leading to inventory builds through the first three quarters of the year, the outlook explained.
 

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