Wed, May 27, 2015
A A A
Welcome preal121
RSS

Commodities Briefing - Categorized | Oil, Price Watch more

SocGen: Iraq supply shock could drive oil price to $150

Posted on 01 July 2014

The oil price could spike to $150 per barrel briefly if the conflict in Iraq hits operations in the country’s major southern oil fields, Société Générale (SocGen) has warned. A report by the bank noted that this kind of supply shock could affect up to 2.6 million barrels per day of Iraqi oil exports, CNBC reported.
A disruption of this scale could then spark a co-ordinated release of strategic oil reserves by member states of the International Energy Agency, although SocGen acknowledged this was an unlikely event. Meanwhile, Saudi Arabia could also put more oil onto the market to mitigate the impact on the global economy………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 40662 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

banner
banner
May 2015
S M T W T F S
« Apr    
 12
3456789
10111213141516
17181920212223
24252627282930
31