Shale to dictate oil prices in the coming quarter | GulfNews.com:
"Oil prices are expected to trade lower in the coming days due to seasonal weakness in demand and rise in shale oil production in the US, analysts said. Brent is currently trading at $66.21 (Dh242.99) per barrel and the US benchmark West Texas Intermediate at $62.34 per barrel. “For oil prices, near term risks are skewed to downside. We are in the midst of a period of seasonal demand weakness which coupled with the undeleting rise in US shale, makes for a bearish cocktail,” Stephen Brennock, a London-based analyst from brokerage firm PVM Oil Associates told Gulf News."
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