Global Assumptions: Oil

November 2006
Asia Monitor: South East Asia Monitor Volume 1;Nov2006, Vol. 17 Issue 11, p8
Country Report
Country Report
The article presents economic forecasts for global economy. The global oil industry will ease from the year's average forecast of U.S. $65 billion due to a slower U.S. and marginally slower global economy. While supply and demand factors suggests lower prices, oil industry analysts expect supply to increase by nearly 2.5% in 2007. Moreover, major risks are being seen particularly to the severe housing contraction in the U.S. which causes a reduction in demand of energy products.


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