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| Saturday, 26 March 2011 00:00 | |||||||
Page 1 of 2 JAKARTA. Maizar Rahman (Former Governor of OPEC) predicted oil prices will continue to be above USD 100 per barrel until the year 2013. Maizar According to 2010 oil prices are more influenced by fundamental factors, while for 2011 through 2012 affected the fundamental factors and geopolitical.
"Prediction of the market situation in 2010 to act more fundamental factor is the year 2011-2012 in addition to fundamental factors also influenced by geopolitics," said Maizar Rahman in the event the Focus Group Discussion Indonesian Crude Oil, Friday (03/25/2011). Fundamental factors influencing the situation in world oil prices, among others, demand factors, supply of OPEC and Non - OPEC, U.S. oil stocks, OPEC's spare capacity of production, exchange rate U.S. dollar, and futures trading, said Maizar. He added, according to a Reuters poll of 24 March 2011, the price of oil West Texas Intermediate Crude Oil (WTI) for 2011 was USD 96.7 and Brent at USD 104.6. World energy demand grows more rapidly, on the other hand the discovery of new reserves of petroleum is difficult to find. Future non-conventional oil and biofuels will increasingly play a role. "Dependence on OPEC world community will continue to rise," he added. (energy and mineral resources)
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