As talk of energy price falls gets stitched into the inflation narrative, the price of a barrel of Brent Crude on the future oil market was hovering around the $80 a barrel mark, having dipped below that mid-month.
Even though some analysts have predicted price per Barrel at $150 in the not too distant future, there is analysis showing declining western demand for oil in the next year or two, which is affecting prices now.
However the longer term view is rising demand.
So don’t expect much respite on oil prices.
Meanwhile Opec is poised to prolong oil production cuts in response to slumping prices.
