A market awaiting developments

Demostenes Florosaboutenergy.com

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The downward trend in oil prices seen in recent months reflects the development of shale in the United States, a evolving situation within the sector that for the time being is not a source of concern to OPEC countries, which are currently engaged in complying with the agreed output cuts

In February, oil prices strongly decreased by approximately $5/b. In particular, on February 1st, North Sea Brent and West Texas Intermediate quoted at $69.75/b and at $66.01/b respectively. On February 28th, the European and Asian benchmark priced at $64.66/b, while the American blend traded at $61.55/b. At the time of writing, Brent was quoting at $63.78/b and WTI at $60.25/b.