Oil pri ces may have retreated to their lowest level since mid-2012 in April on concerns over sluggish global economic growth and traditionally weaker second-quarter demand. But Brent crude’s average price still remained at about $110 a barrel during the first four month of the year. This may be somewhat below the $118-a-barrel-average in the corresponding period a year earlier but is very much in line with the $110 average predicted for 2013 by senior industry executives who participated in the Gulf Intelligence Survey at the Doha Energy Forum. With OPEC forecasting demand in the second half to be much higher than in the first half, prices are likely to stay well above the $100-a-barrel level for yet another year. This bodes well for those seeking to exploit unconventional resources such as shale oil and for Gulf states including Qatar to move ahead with capital-intensive energy developments.