| Major analysts in the (MENA) region are predicting a sharp increase in oil prices if the US defaults on its debt. Although oil producers will benefit from such moves, a crude price increase is not necessarily a good event for the global economy and it could lead to price pressures building globally, they pointed out.
The debt crisis rattles global markets as oil demand is once again clearly above pre-crisis levels and is continuing to grow, thereby eating into the cushion of spare capacity that now is largely in Saudi hands..............................................Full Article: Source
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