- 2013 envisions improved demand expectations mainly driven by increasing growth in Chinese oil demand
- Supply expectations remain robust for 2013 due to US tight oil production optimism
- Risk premiums may limit easing of price
- Market optimistic demand expectations, lower OPEC spare capacity and OECD inventory helped to keep prices strong
- Price forecasts for 2013 have been revised upwards
- High degree of uncertainty in the oil market may lead to volatile prices fluctuating between $100 to $120 in the midterm
by Graham Walker // 25 February, 2013
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