Inspired forecasting there as Brent currently trades 99.34 in Oct futures and 100 in the Nov contract.
- Says prices fell on oversupply and weak demand
- Sees higher Chinese demand in Q4
- Libya crude and US shale pressured prices
Nawal Al Faziea spoke to reporters, via Bloomers
One thing to watch with oil prices is that if demand keeps falling then that may prompt OPEC to cut output. The rough, back of a fag packet, break even range for production, across all OPEC producers is around $95-110.
Update: Just found this from Reuters that gives a better idea on the prices and in the main, they are shown in a format to meet overall fiscal expenditure.
