The political price of oil

Govt will have to deal with pressure on the fisc

The price of a barrel of crude oil earlier this week hit its highest point in over two years and Brent crude was trading at $64.65 a barrel. New data from China on Wednesday showing slowing energy imports took crude oil off those highs, but it is clear that the momentum in the market is upward. The agreement arrived at by the major oil producing countries last year, including some that are not members of the Organisation of Petroleum Exporting Countries, or OPEC, seems to have had the desired effect of pushing prices back up somewhat from the lows that