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Finance & Accounting
Pages 6 (1506 words)
The global demand exhibited a reducing trend from the year 2011 into the first two quarters of the year 2012 after which the trend increased but fell again in the first quarter of the year 2013.
Further, operational dynamics in the market determines efficiency and cost and are therefore fundamental to stakeholders’ knowledge. This paper offers analysis to the market with focus on prices and market dynamics and offers expertise opinion over the market. Oil prices Trend in global oil prices has remained volatile over the past six months. Data from OPEC identifies three measures for oil prices over the period and the measures, though not equivalent over the time shows a consistent trend to support the hypothesis that prices in the oil market are relatively volatile. The OPEC reference basket reported about $ 109 a barrel on December 3, 2012 and the price slacked downwards in the following week before adopting an increasing trend with a peak in the middle of February. Trends in December, 2012, and January and February 2013, however identified kinks within the escalating momentum. With the same non-uniform scope, the oil prices reduced, with a slight distortion in the last week of March 2013, before assuming an increasing trend in the last week of April. On May 6, OPEC reference basket reported the prices at about $ 104 per barrel while the West Texas Intermediate reported the prices about $ 102 per barrel and the Brent Dated scale was less than $ 100 per barrel (Organization of the Petroleum Exporting Countries 5). ...
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