Oil prices to remain high in 2012
Oil prices to remain high in 2012
Global & Regional Focus Notes
14 Δεκεμβρίου 2011
• Risks of a disruption in global oil supply have increased recently, due to growing international concerns over Iran’s nuclear program that have led the European Union to consider banning oil imports from Iran.
• Data from the supply and demand side of the oil market continue to indicate upside risks to crude oil prices for 2012.
• Lack of spare capacity and the low level of oil inventories is leaving the oil market vulnerable to higher than expected demand or to supply disappointments.
• The sharp rise in breakeven oil prices indicates that oil-exporting countries will likely be more willing to cut production to maintain high oil prices, raising the risk of further price spikes.
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