Long winter predicted for oil as market rout continues | The National:
"The oil market limped into the New Year still reeling from one of the most brutal years on record.
World benchmark North Sea Brent crude oil futures were up 14 cents at US$36.60 per barrel in thin volume on the final day of trading, but that was only just above the 11-year low of $36.20 last month, and it leaves oil prices down 68 per cent since the market rout began in June 2014.
There are few forecasters who see any quick respite, despite signs that the Saudi Arabia-led Opec policy of maxing out production to squeeze out higher-cost producers is gradually having the desired effect."
'via Blog this'
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