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Brent crude oil prices may rise to $125 per barrel if Western air strikes begin against Syria, and could surge to $150 per barrel if the conflict spreads to major oil producers like Iraq. An oil analyst from Societe Generale said prices will depend on whether Saudi Arabia can increase production enough to compensate for any supply disruptions caused by military action in the region.
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- 1. Technological University of the State of Zacatecas Academic Unit of Pinos Technology of Information and Communication Carlos Yael G坦mez Ibarra News August 29, 2013
- 2. News On August 28, 2013 Michael Wittner, oil analyst at French bank mentioned that Brent oil may rise to $ 125 a barrel if the West starts air strikes against Syrian and could soar if the conflict spreads to the rest of the Middle East, as said on Wednesday by the banks SocieteGenerale. Another analyst named Michael Wittner, also mentioned that the benchmark North Sea crude could climb to $ 150 per barrel in case the war affects key oil producers such as Iraq. Wittner said if oil supplies are reduced by a military oil market it will depend on the extra production of Saudi Arabia, the only member of the Organization of Petroleum Exporting Countries with enough additional oil production capacity.