Wednesday 20 April 2016

WHY CRUDE OIL PRICES ARE RISING, BY OPEC

Akpo FPSO offshore NigeriaThe Organisation of Petroleum Corporation (OPEC) has attributed the increase in crude oil prices to supply disruptions in Nigeria and Iraq, and signs that US shale oil output is shrinking.

OPEC said tht US refiners were providing support, with utilization above 89 per cent, as plants returned from maintenance ready to meet buoyant gasoline demand.

Read more @ The Guardian

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