The crude oil price has moved by an astonishing US $150/barrel since the start of this volatile, unpredictable year. It began the year at $92/b for OPEC’s Reference Basket, climbed to a peak of $141/b in July and, since then, has fallen to a trough of $42/b in December. The persistent volatility has witnessed price swings on an unprecedented scale. We have seen crude prices rise by $10/b on one day and fall by $16/b on another. In October, the monthly average Basket price fell by a record $28/b. read more