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Opec long-term projections are worrying

Posted on 19 November 2012

The Organisation of Petroleum Exporting Countries (Opec) recently issued its annual World Oil Outlook and while the report may not please Opec producers, it might not overly displease them either.
Right at the beginning, Opec says “Ongoing geopolitical tensions, continuing excessive speculation in oil markets, a fragile financial and banking system, an anaemic economic recovery despite the extraordinary fiscal and monetary support, persistent high unemployment and social unrest in a number of countries have all made 2012 a challenging year for oil producers and consumers everywhere.” As most of these problems won’t go away easily or soon, they are, therefore, the background setting for the outlook Opec makes in the long term to 2035……………………………………….Full Article: Source


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