Vienna, Jan 8 (EFE) .- The price of a barrel of OPEC oil has gained almost 18% in one year, standing at $ 91.27 Tuesday, the last day the organization released this week trading.
Thus, the rising cost of black gold stands out from the cradle to the organization a few months ago considered as suitable for both producers and consumers, between 70 and 80 dollars, and threatens the fragile global economic recovery.
With this last climb, the OPEC crude exceeded for the first time, the $ 90 reached in October 2008.
The International Energy Agency (IEA) this week called on OPEC to increase output to curb rising oil prices, against the decision in his last ministerial conference in Quito on December 11.
There the twelve members agreed to hold national quotas unchanged, after analyzing the world oil demand in 2011 will probably be lower than in 2010.
Argued for this delicate world economic recovery, the high level of unemployment in the industrialized world, conflicts in the types of change and a new banking crisis in Europe.
The IEA recalled in an analysis published in the newspaper “Financial Times” in the last year the cost of imported oil for the OECD countries rose from 200,000 million to 790,000 million due to price increases oil.
This increase is equivalent to a revenue loss of around 0.5% of Gross Domestic Product (GDP) of OECD, the agency said.
“Oil prices are entering a danger zone for the global economy,” he told this newspaper Fatih Birol, chief economist of this international organization.
At the moment, OPEC has shown no sign of wanting to change the allocation of national quotas, individual whose performance has always been controversial, or want to advance the date of the next ministerial conference, scheduled for June.
Furthermore, the Kuwaiti Oil Minister considered that a price set at between 80 and 100 dollars per barrel is correct.
The only hope for an easing of prices is lower consumption in the second quarter, lagging growth both as a milder climate in the northern hemisphere winter, experts say.
The price of Brent, Europe’s benchmark, soared $ 95.50 also a barrel on January 5, the highest since September 30, 2008, to close Friday at $ 93.3.
In turn, the WTI, the benchmark in the U.S., stood at only $ 3 barrier allure of $ 100, the highest price in eight months and ended the week also more moderate, $ 88.03 .
In the U.S., demand dropped to the lowest levels in three weeks, to a lesser jobs than expected in December, with an unemployment rate of 9.4% instead of 9.7% forecast by experts , which pushed stock prices and raw materials.
An argument for the rise in oil prices has been that the U.S. has experienced the coldest winter in 25 years, but the stop of heating oil demand is about to arrive, which is now expected to prices are slightly relaxed. EFE
Source: ForexPross.es
