DEMAND KEY FACTOR IN WORLDWIDE CRUDE PRICES AND DRILLING

Robert J. Beck Economics Editor The global demand surge that rescued world crude oil prices in 1994 will continue through 1995 and at least sustain, if not increase, worldwide drilling activity. Although average world crude oil prices at the end of 1994 were somewhat higher than a year earlier, the average price for all of last year was down from that of 1993. Prices started the year very weak but gathered strength as worldwide petroleum demand growth exceeded expectations.

In order to access this content, you must be logged-in and have an active subscription to the OGJ Premium Archive

Subscribe

More in Home