18 June 2008 11:27 [Source: ICIS news]
“Part of the reason for strong oil prices has been greater demand growth since 2003 and 2004,” adding that the two major demand growth centres were the ?xml:namespace>
“The portion of disposable income spent on oil and gasoline [in the
There are also uncertainties in emerging markets in Asia, such as fiscal pressures in
One factor in this has been the fact that consumers in
“Chinese consumers have not seen these last prices,” said Paisie, adding that it was unlikely that subsidies would be lifted before the Olympics.
“If it does happen it will impact overall economic growth and demand. Until you start to see the impact on
“There is a potential for prices to moderate, but not below $60/bbl.”
The two-day conference organised with Petronas ends on 19 June.
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