File - Discoveries of vast reserves of oil and the slow progress of alternatives in recent years have given rise to a very different outlook on oil prices.
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Oil rose Friday on buying support after the longest stretch of weekly losses that took prices to 2011 lows, but oversupply concerns made analysts skeptical of whether the rebound would continue.Benchmark Brent crude rose as traders saw a bargain after Thursday's 3 percent slump and the near 4 percent loss in three earlier sessions. U.S. crude was up by some 81 cents at $75.02 a barrel, after a session high of $75.42 and four-year low of $73.25 .OPEC's barrel price for crude itself has fallen by $35.33 since late June, to $75.15 Friday.
FOLLOW THIS ARTICLE