Oil Market and Prices Prospects for 2014
The international crude oil prices started the year 2014 within parameters comparable to those of the precedent year: WTI (USA) recorded 92 $/barrel, on the American spot market, considered a minimum value for the last 5 weeks, while Brent (Great Britain) had a more stable evolution, on the spot Ro...
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| Format: | Article |
| Language: | ron |
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Institute for World Economy
2013-10-01
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| Series: | Revista de Economie Mondială |
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| Online Access: | http://iem.ro/rem/index.php/REM/article/view/126/132 |
| Summary: | The international crude oil prices started the year 2014 within parameters comparable to those of the precedent year: WTI (USA) recorded 92 $/barrel, on the American spot market, considered a minimum value for the last 5 weeks, while Brent (Great Britain) had a more stable evolution, on the spot Rotterdam market, staying around a value of 107,50 $/barrel.
Despite analysts’ forecasts, which during the last 3 years staked on a lower oil price, as a consequence of the spectacular increase in non-OPEC oil production, namely of shale oil, the international oil price, namely that of Brent, closed each of the last 3 years around the same level, of 108 $/barrel.
As for 2014, the great majority of oil analysts estimates again a decline of oil prices, as a result of a significant rise of oil offer globally, which will greatly surpass the demand rise. |
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| ISSN: | 2343-9521 2343-9521 |