Tuesday, 19 July 2011 11:53

Everybody Wants Crude Oil

Even today, the demand on crude is getting higher and higher. IEA's statistics say, the daily consume of oil will increase 2012 worldwide to 1,5 million barrels. It doesn't sound as bad, but if we consider that this rate will get up to 100 million barrel per day in 2030, we can not say, this process would be good.

As we saw in the last few weeks, the IEA really tries to stabilize the consume and the demand of crude, but also the price. This, however, seems to be really hard to realize. China, India and Brasilia, just to mention some of the greatest developing countries, use day by day more and more crude. This “desire” of crude has a great influence on the consume and demand balance. One of the most important effects of this is the raising of the prices.

All this shows up in the global economy. In Europe you see this in the Euro crisis, in the United States the prices of fuel are getting higher in an insane way. Of course, experts try to consolidate the rates. The last weeks, the crude oil prices fluctuated greatly. However, the actual status isn't too shiny for the consumers. A barrel of WTI costs $96.79, Brent crude can be bought with $118.32 per barrel.

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