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Rising oil prices: The Euro zone’s next big problem?

Posted on 31 May 2013

After the banking crisis, the oil price is the next major threat to the euro zone, analysts told CNBC, arguing that prices will rise once the shale oil revolution in the United States dies down and that the weakened region could be priced out.
The longevity of the shale oil revolution in the U.S. has divided analysts, with PricewaterhouseCoopers (PwC) predicting the boom in shale oil production will shave as much as 40 percent off oil prices by 2035. Others argue that ultimately, exports from the Organization of Petroleum Exporting Countries (OPEC) drive supply and demand for the European Union (EU) and as they shrink, oil prices will rise, leaving the euro zone facing an energy supply problem………………………………………..Full Article: Source

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