Panorama 2013: Easing of oil price unlikely

02/11/2013
With futures markets anticipating a price of Brent crude oil of $110/bbl this year, an easing to $90/bbl appears possible in three unlikely cases, according to Panorama 2013, an annual review by IFP Energy Nouvelles (IFPEN) of Paris: • "A strongly deteriorated economic situation" with growth worse than projected by the International Monetary Fund in its base-case World Economic Outlook. • Greater stability and less tension than prevail now in North Africa and the Middle East. • Faster-than-forecast growth in US production of oil from shales and other low-permeability formations. "Such scenarios, unlikely today, must not be excluded in principle," wrote the Panorama 201...
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