Oil Prices and Fiscal Deficit : Intent Is Not Enough
Article Details
Pub. Date
:
February, 2010
Product Name
:
THE ANALYST
Product Type
:
APOLITICAL
Product Code
:
ANAP11002
Author Name
:
grk
Availability
:
YES
Subject/Domain
:
Finance
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:
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No. of Pages
:
1
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Description
Oil industry is once again seized by volatility in the market. International crude oil prices are currently
hovering in the range of $75-80 per barrel. After hitting an all-time
high of $147 per barrel in July 2008, it hit a low of $47.48 and a
high of $81.98 per barrel in 2009, and is now facing resistance
at the range of $75-80 per barrel.
Looking at the positive signals emanating from the
US and the rest of the world about the overall revival of
the economy, it is expected that the demand for oil in 2010
may increase by about 1.5 million barrels per day, which is
a 1.7% rise over the total consumption of the world in
2009. The forecast of OPEC, of course, stands at a rise of 1%
over 2009 consumption.
Keywords
The Analyst Magazine, Oil Industry, International Crude Oil Prices, Public Sector Oil Companies, Global Financial Crisis, Petroleum Products, Retail Market, Economic Growth, Capital Resources, Fiscal Deficits.
