If you analyze the market for crude oil prices, you would find that oil prices have been rising consistently every decade. Right now, the reports that are circulating in the market predict that 2012 will signal a low year as far as crude oil industry is concerned. Experienced market analyzers have come to the common conclusion that in the year 2012, not only would the demand for oil and oil products drop considerably but so would the oil prices fall simultaneously as well. The main reason for this is supposedly the likelihood of global recession to hit harder this year.
Whether or not it truly happens is something we cannot conclude at the moment but the reasons are extremely logical and there should be no surprise at the prediction turning true. However, even if the oil prices keep hiking this year that too should be no surprise as with the growing population, the demands for energy and consequently oil products is on an increase as well. Naturally, the oil reserves are limited and if the demand remains high, price hike is a possibility. Just like a lot of time in the past, oil industry may defeat the odds yet again.
If it so happens, the gulf countries whose economy rely heavily on the oil export can breathe a sigh. However, if the experience of the experienced market analysts turns out true, these countries may suffer a lot of problems and they might have to look for better alternatives. So far, the crude oil industry has proved to be a great prospect with most of the people reaping a lot of money from this profitable industry. 2012 is the year of acid test. Whether or not the oil industry succumbs to the pressure of global recession would be an interesting thing to watch out for.
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