Bloodshed in Iraq, sanctions on Russia, conflict in Palestine. If you had asked market participants at the start of the year what would happen to the oil price if such events coincided, few would have predicted it would stay near $100 a barrel. But

Source: www.ft.com

"The high cost of production across the globe, from shale oil in the US, oil sands in Canada or deep water fields off the coast of Brazil, will put a good floor under the price of oil. Even though improved technology will help, this will only be a partially offsetting factor."

See on Scoop.it – Oil and Gas Development in Lebanon and East Mediterranean