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Bad Events Tend to Boost Price Rise

On the background of the wildfires in the Canadian oil sands and attacks in Nigeria, specialists say that unplanned outages and disruptions may be necessary for prices to rise.

17.Jun.16 2:06 AM
By Anastasia Sutulova


Bad Events Tend to Boost Price Rise

Due to the glut in global supply oil prices have been kept low for more than a year. This tendency has had a negative impact on the oil-driven economies and the whole industry.

However, during the last two month we have been observing an increase in oil prices. One of the factors without which this would not have happened is production disruptions.

Among the unfortunate events that have an impact on the global supply and oil prices are those happening in Canada, Nigeria and Venezuela. While Canada bears losses because of the natural disasters, Nigeria and Venezuela suffer more from the political and financial instability.

Of cause, this is not a celebration of disasters which make oil prices higher and let several parties benefit. It is rather a reminding that unfortunate events have a real impact on production and supply, and shall be carefully analysed when trying to provide stable oil prices.

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