This Week in Petroleum: The Shifting of Global Supply Disruptions
THIS WEEK IN PETROLEUM REPORT RELEASE – April 18, 2012
The Shifting of Global Supply Disruptions
The first quarter of 2012 saw a significant rise in global crude oil prices. After closing 2011 at $108 per barrel, Brent spot prices exceeded $125 per barrel by early March, before trading in a relatively narrow range for the remainder of that month. This price increase reflected changes in global oil supplies, as significant unplanned disruptions in production from countries that are not members of the Organization of the Petroleum Exporting Countries (OPEC) countered the recovery in Libyan production. Today's discussion explores these recent developments.