Global oil prices have grown to $26 a barrel on the back of a recovery in industrial demand, the cri...
Global oil prices have grown to $26 a barrel on the back of a recovery in industrial demand, the crisis in the Middle East and the success of Opec in restraining supply. The latest European and US industrial output data shows the first modest increase in output since mid-2000, says head of global strategy at Standard Life Investments Andrew Milligan. Worries over possible military action against Iraq and the impact this will have on pumping have also helped inflate prices, along with reduced Opec production of just 23 million barrels per day in February, down from 27 million barrels in...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes