A gas flare on an oil production platform in Iran's Soroush oil fields. The supply vs. demand balanceWhen supply is high, demand falls and so do prices, but when prices fall demand goes up. Production outages in Nigeria, Venezuela and LibyaAttacks on oil facilities in Nigeria have curbed production from the African nation to a 20-year-low. This will add about 4 million barrels that have recently been taken offline. Crude inventories slid by 4.23 million barrels last week, more than double the expected drop of 2 million.

Source: thestar May 26, 2016 15:18 UTC