With the problems of recession looming over our head, there is a high chance that the oil industry would be hit by its blow as well. The experts at analyzing the market trends, statistics and figures have come to the joint conclusion that in the year 2012, the oil industry is likely to be hit by the massive blows of recession. They have predicted that both demand and price for oil barrels are likely to take a decline following this nerve wrecking recession period.
Whether or not this situation turns out to be true is a tale that shall unfold with time. But if it does turn out to be true, there is no reason to be happy as the cause for the slash in prices would be recession which is not the best of situation you would like to be in. hence, despite the fact that the oil prices are likely to take a dip, because of the blows of recession, one might not be able to cash on the situation as the financial condition of most of the countries is not likely to be great. This is another reason why market analyzers have predicted the falling demand as well.
Oil has ruled the international market for too long showing no signs of defeat. May be it has run its course and with these deflated prices, the days of amazing boom of oil industry might be over. So, we need to play the waiting game and see which way the oil industry unfolds and takes its course.
The falling demand may be a blessing in disguise as the world is in a desperate need for reducing the oil consumption since oil being a natural source is in fear of being exhausted if continued to be used indiscriminately. So, one may never know this slash in demand might be the perfect blessing in disguise.
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