IMF: oil price to surge in case of supply disruptions

Note: This section contains information in English only.
Source: BBC
The IMF warned of 20-30% jump in the oil price if Iran oil exports are impacted. The sanctions imposed by the EU on Iran are equivalent to oil blockade, so the market may face similar shock to Libya's revolution in 2011. In case Iran blocks the Straits of Hormuz the shock can be much larger. Currently, the oil stocks of the largest oil consumers are lower than average while oil exporters curbed ability to boost oil supplies, the IMF added.


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Thu, 26 Jan 2012 09:51:23 GMT

South Korea's economic expansion impacted by the EU woes

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