Oil prices recovered slightly form its heavy losse

Oil prices recovered slightly form its heavy losses

Dec 15 2014


 Most of the markets are sill monitoring the volatile movement of the oil prices. Today the oil recovered slightly at the beginning of today trading session above $63 per barrel. But the prices remain trading below $65.

In fact, Brent crude oil hit a five-year low close to $60 a barrel after the International Energy Agency has cut its global demand forecast on last Friday. In addition, the producer group OPEC restated its determination not to cut its output despite the oversupply and low prices of the oil.

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