Thu, 17 May 2012 07:12:00 +0400
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OPEС members are not going to cut their oil production in the near future despite the declining oil prices triggered mainly by increasing oversupply. On top of that, Iran is going to reenter the global market of crude oil as a major player, which is definitely going to increase the growing oversupply even faster.
According to the Secretary General of the OPEC Abdallah el-Badri, oil prices are expected to stabilize next year. He views the current situation as a challenge for everyone. On top of that, the prices are expected to become balances and stable for longer-term perspective.
There are hundreds of companies manufacturing smartphones worldwide. Still, there is only one company in the world that is capable of making most of the revenue in the industry. In particular, 92% of the entire revenue generated in the global smartphone market belongs to Apple.