(EnergyAsia, May 29 2015, Friday) — Crude prices have survived months of heavy selling pressure despite evidence of a growing glut since the start of the year. As Organization of Petroleum Exporting Countries (OPEC) ministers prepare to meet in Vienna on June 5, they will note with some satisfaction that prices have recovered by more than a third since hitting bottom in January, with no signs that crude is headed towards the US$20/barrel levels predicted by Goldman Sachs.
MARKETS: IEA sees global oil glut growing at faster rate than demand
Posted on May 29, 2015 by EnergyAsia