Brent crude prices, the benchmark for half the world’s oil, will weaken for a second year in 2014 as U.S. output expands and threats to Middle East and North African supply ease, the most-accurate forecasters said.
The revival in Iraqi oil output has stalled. Again.
Societe Generale SA raised its forecast for 2012 Brent crude prices by 15 percent to $127 a barrel as spare production capacity in the Organization of Petroleum Exporting Countries shrinks.
"Demand is strong and that's the bottom line."
- Mike Wittner on Aug 28, 2014
SocGen's Wittner Says Oil Supplies Now Are 'Tight'