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In an analysis denominated “110 to 120 dollars oil barrel by 2014” M. Nourredine Legheliel mentioned that oil market irrationality led many oil experts to refrain from giving forecasts over oil barrel prices owing to the repeated failures. He made clear that his survey is not a forecast but an assessment of a balance of power in raw material market. The analysis is based on many indicators such as Saudi Arabia situation: It mentions that after the 9/11 attacks Saudi Arabians favoured local investments and inaugurated in 2002 Riyadh Stock exchange, since then they do not take a dim view of 100 dollars an oil barrel. The other factor is the US inflation which is likely to lead to oil prices boom, the forecasts mention in this regard 110 dollars a barrel. Third, the world growth theory indicates that oil high prices within recent year is owed to emerging states economic growth, even though it slows down oil prices will remain higher. At last but not least, it worth mentioning great international oil companies’ role namely (EXXON - MOBIL, BP, SHELL, TOTAL, CHEVRON). When examining thoroughly speculator and investor behaviour we can come up to the conclusion that oil barrel prices can reach their 80 dollars climax, the fact that makes 120 dollars a barrel a very likely hypothesis. | ||||||||||||||||||
Oil prices are to remain higher next decade