Changes to Dubai and Oman crude price assessments
Following a two-month consultation period that ended October 30, Platts is moving forward with some substantial changes to its Dubai and Oman crude oil benchmarks.
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US investment bank Goldman Sachs cut sharply Monday its forecasts for average oil prices in 2015 but said sliding US shale production could see the global oil market rebalance by the end of the year. Goldman said it expects Brent crude to average $50.40/b a barrel from $83.80/b, as global oil price continue to their rapid descent into near six-year lows. WTI is expected to average $47.15 a barrel, down from a previous forecast of $73.75/b, the bank said.
It could be argued that the history of oil is the history of the modern world. And Platts, a leading provider of analysis, news and prices for the industry, has played a significant role in this amazing story.Of all the natural resources that have been used to build our world, surely oil is the most pervasive. We all know that oil provides the plastics in the computer we use, has driven revolutions in fashion, industry and transport, and even powers our homes. No one's life is untouched by this immense resource.
Published November 2014
The Asia Pacific and Middle East Refined Oil Products Guide contains the primary specifications and methodologies for Platts Asia Products assessments.
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