SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : View from the Center and Left
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: koan who wrote (186335)3/30/2012 1:29:51 PM
From: Wharf Rat  Read Replies (2) of 542799
 
Recession beckons in Britain, claims OECD

Oil prices barely budge despite reserve-release talk. For those who subscribe to the theory of ‘Peak Oil’, the recent price action ought to have triggered some cheer. Despite increased talk that America and Europe might reach an accord on releasing oil from their strategic reserves, and despite Saudi Arabia’s promise that it is doing as much as it can to return the oil price to a more normal level, the price of Brent crude remains around USD 125 a barrel. Quite apart from the political risk premium which oil is attracting because of geopolitical tensions, the issue bedevilling oil prices is essentially one of supply disruption and general tightness, notwithstanding the claim made by Saudi Oil Minister Naimi in yesterday’s FT that the market is well-balanced. Iranian oil exports are subject to heavy sanctions and Russian supply has also been restricted. That said, at these elevated prices, there is plenty of incentive for the major oil producers to ramp up production. With some real concerns amongst international policy-makers regarding the potentially adverse effect on growth of oil prices at these elevated levels, we can expect some further steps to alleviate the pressure in the market in coming weeks. How successful they will be is a completely separate matter.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News