(Bloomberg) — This year, the oil market has faced some of the worst supply disruptions in recent times and yet prices remain stuck in the $60s.OPEC’s oil production tumbled the most in 16 years last month after the worst-ever attack on Saudi Arabia’s energy infrastructure temporarily halved its output. Earlier in the summer, Russia’s Druzhba contamination crisis forced it to make sharp output cuts and U.S. financial sanctions on Iran remain in force.And yet, Brent crude has averaged around $66 a barrel for most of 2019, far from a price which suggests the world faces an oil shortage. As Russian …read more
Source:: Yahoo Finance
