The oil price is climbing in the last three months of the year with significant fluctuations, as the price of a barrel of North Sea brent crude will likely hover in the range of USD 50-65 per barrel, projects oil analyst Global Risk Management.
The firm's latest quarterly report notes that "increase over the coming period, dark horses being the potential ramping up of U.S. shale oil production - bearish for oil prices - and geopolitical tensions possibly affecting oil output - bullish for oil prices."
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