Whoever let him loose?
‘Hulk’ing oil prices have gripped the world, and the problem isn’t rising consumption. karan mehrishi of 4PsB&M takes a closer look
What goes up must come down? How one wishes this
was as true for oil prices, which, besides defying gravity, have upset the budgetary calculations of millions of households across the world; not to mention bringing entire governments to their knees. When oil prices breached the $110 mark, analysts were of the opinion that prices would stabilise themselves as consumers would abstain from consumption as soon as they feel the pinch. Those analysts have been caught on the wrong barrel... er... foot, since oil prices are now touching $130, and a super spike to 200 is now considered possibile.
Even though some factions believed that a super spike, prices exceeding $200 per barrel, will be an eventuality, some analysts have a separate opinion. “I don’t think prices of crude will cross $200 per barrel simply because it’s too high. We are at the $120-130 range and consumers and governments have already started to contribute significantly,” says renowned oil expert Sebastian Mallaby, Fellow, Counsel on Foreign Relations (CFR), to 4Ps B&M.
However, there is still no respite from the reality of the impending oil shock and stakes are indeed high. According to Petro India’s Shantanu Saikia, “There is a fair amount of volatility, it all depends on what rice the demand-supply equilibrium is settled at. However, this is not a violent shock; prices can stabilise in 5-6 years, but it should be understood that this is an era of high oil prices.”
‘Hulk’ing oil prices have gripped the world, and the problem isn’t rising consumption. karan mehrishi of 4PsB&M takes a closer look
What goes up must come down? How one wishes this
was as true for oil prices, which, besides defying gravity, have upset the budgetary calculations of millions of households across the world; not to mention bringing entire governments to their knees. When oil prices breached the $110 mark, analysts were of the opinion that prices would stabilise themselves as consumers would abstain from consumption as soon as they feel the pinch. Those analysts have been caught on the wrong barrel... er... foot, since oil prices are now touching $130, and a super spike to 200 is now considered possibile.Even though some factions believed that a super spike, prices exceeding $200 per barrel, will be an eventuality, some analysts have a separate opinion. “I don’t think prices of crude will cross $200 per barrel simply because it’s too high. We are at the $120-130 range and consumers and governments have already started to contribute significantly,” says renowned oil expert Sebastian Mallaby, Fellow, Counsel on Foreign Relations (CFR), to 4Ps B&M.
However, there is still no respite from the reality of the impending oil shock and stakes are indeed high. According to Petro India’s Shantanu Saikia, “There is a fair amount of volatility, it all depends on what rice the demand-supply equilibrium is settled at. However, this is not a violent shock; prices can stabilise in 5-6 years, but it should be understood that this is an era of high oil prices.”
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