Former Governor of OPEC: Oil Prices on Top USD100/Barel Until 2013?

Make Money Blog$;JAKARTA - Former Governor Maizar Rahman OPEC predicted oilprices will continue to be above USD100 per barrel until the year2013.

Maizar said that for 2010 oil prices are more influenced byfundamental factors. While for 2011 to 2012 affected the fundamental factors and geopolitical.


"Prediction of the market situation in 2010 to act more fundamentalfactor is the year 2011-2012 in addition to fundamental factorsalso influenced by geopolitics," Maizar Rahman said as quoted bythe official website of the Ministry of Energy and Mineral Resources in Jakarta, Sunday (27/03/2011).

Fundamental factors influencing the situation in world oil prices, among others, demand factors, supply of OPEC and Non-OPECoil stockpiles in the United States, the spare capacity of OPECproduction, U.S. dollar exchange rate, and futures trading.

He added, according to a Reuters poll of 24 March 2011, the priceof oil West Texas Intermediate Crude Oil (WTI) for 2011 amounted to USD96, 7 and Brent amounting to USD104, 6 per barrel.

He said that world energy demand grows more rapidly in the midst of the discovery of new reserves of petroleum is difficult to find.This sparked a non-conventional oil and biofuels will increasinglyplay a role. (WDI)
source: Okezone.com

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