Brent Dips Under $60 as Oil Prices Look Destined for $40 per bbl

by George Belekos, KPI Bridge Oil
Tuesday December 16, 2014

How does $40 per of barrel oil sound?  That level seems to be “ok” with the OPEC as the U.A.E. Oil Minister said he does not expect an “extraordinary” meeting of OPEC “as the price goes from $60 to $40” and that the “market will stabilize itself.” 

Suggesting that OPEC “needs to wait at least a quarter” before changing their view on the current situation. 

This should be very good news for bunker buyers.  While the $0.02 bbl increase in WTI today is not the direction we all want, the overall trend seems to continue to be down. 

Bumps in the road should be expected here and there but it could be that buyers get a major Christmas gift in the form of prices starting with a “2” in the primary bunker ports. 

That might be a good way to start the New Year.

About KPI Bridge Oil

KPI Bridge Oil is one of the world's leading international bunker broking and trading firms. With a network of offices that covers every major time zone, we have an in-depth knowledge of ports and bunker markets around the world. Our access to real-time market information and long-established credit lines with suppliers means we use our buying power in the right place and at the right time. All this ensures our customers enjoy competitive prices - and on favourable terms.

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