Experts confused about sliding world oil prices

Posted Aug 13, 2014 7:42 am.

This article is more than 5 years old.

The recent slide in world oil is being called a bit of a head scratcher.

Normally when geo-political events heat up, oil prices surge.

Despite hostilities in the Middle East and other energy export regions around the world, crude prices are hovering around a 13 month low.

The Globe and Mail reports concerns about global conflicts have been offset by rising oil supplies with traders taking a wait and see attitude.

However there is one wild card–that’s is Saudi Arabia, the world’s largest oil exporter, which could decide to cut production in the months ahead.

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