Fracking will provide a buffer for consumers as oil price rises - FT.com:
"Oil producers in the US have already ridden to the rescue of consumers once this decade. Soon they may have a chance to do it again. The oil market has been hit by a series of shocks, from wildfires in Canada to militant attacks in Nigeria, which have taken an estimated 3m barrels a day from global supplies.
The glut that has sent prices plunging since 2014 has been clearing faster than expected. Internationally traded Brent crude, which was about $27 per barrel in January, is hovering at about $50. With Russian production expected to decline and Venezuela staring into the abyss, there is a real risk that further disruptions will drive prices higher still."
'via Blog this'
No comments:
Post a Comment