IMF: oil price to surge in case of supply disruptions

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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

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