Demostenes Floros | aboutenergy.com
The main reasons for the rise in oil prices are the collapse of Lybia’s and Venezuela’s output along with the economic measures imposed against Iranian crude exports. Looking at country data, China and India are still the key drivers
In September, barrel prices significantly rose at around $4/b. In particular, Brent North Sea oil quality started the negotiation at $78.01/b and closed at $82.75/b, while West Texas Intermediate opened the transaction at $69.64/b, closing at $73.43/b. At the time of writing, Brent was quoting at $84.91/$ and WTI at $74.80/b.