Business News • MarketWire • Oil and Gas: Stepping Up on the Back of Economic Re-Acceleration |
Oil and Gas: Stepping Up on the Back of Economic Re-Acceleration |
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Oil and Gas: Stepping Up on the Back of Economic Re-Acceleration
JOHANNESBURG, SOUTH AFRICA--(Marketwire - March 19, 2010) - www.rothmanresearch.com - Oil has been one of the most volatile commodities in the materials strata and has seen a stratospheric rise and a sharp nosedive over the past couple of years. After bottoming at around USD $30 per barrel, the commodity has forged its way back to the USD $80 per barrel on the back of re-acceleration in the global industrial activity. Massive stimuli from governments across the globe have helped the commodity gain ground over the past one year. The recuperation has been majorly shouldered by Asian economies like China and India who are already seeing robust industrial activity and continue to import this commodity in large quantities. At the same time industrial recovery in developed countries on the back of coordinated efforts from various governments is also providing a supporting hand to the positive performance of the commodity.
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