Is The World Heading Towards Another Oil Spike?: McKinsey

alifarabia | November 20, 2011 | Oil | No Comments

Oil prices will rise higher as global economy prospects improve over time. However, dramatic shifts and spikes could upset the fragile recovery and have unintended consequences which could lead to greater demand destruction for fossil fuels altogether, much to the dismay of oil exporters who are investing heavily in fossil fuels.
The world could experience a period of significant volatility, with oil prices leaping upward and oscillating between $125 and $175 a barrel for some time.

But don’t get the Saudi champagne out just yet as it may not translate into petrodollars flowing into the Gulf coffers. READ MORE HERE

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