Recent events in Russia and continuing problems in Venezuela and the MiddleEast have left the oil markets in greater doubt than ever about where crude pricesare headed. But, for the time being at least, prices are riding high.

While market watchers report a growing oil supply surplus, with stocks – atleast in non-Organisation for Economic Co-operation and Development (OECD) countries – rising,the Brent crude price remains bullish, at just over $28 a barrel (bbl) at theend of October. This is