Brasília – The Organization of the Petroleum Exporting Countries (Opec) declared on Thursday (12) that the higher prices of the commodity are motivated by geopolitical factors, like the political instability faced by countries in the Middle East and North Africa – producer regions –, the possible lack and speculation. The Opec estimates that this year there should be growth of 860,000 barrels a day in production, 0.97% more than in 2011.
The Opec estimate is that the global oil demand in 2012 should be 88.6 million barrels a day. However, specialists warn of the risks of uncertainty and fragility due to the global economic conjecture.
According to figures disclosed by the Opec, which includes 12 countries, the average price of the barrel rose 4.7% and reached US$ 122.97 in March. In February, the barrel was at US$ 117.80.
In the study, specialists warn that the effects of the international economic crisis are being felt in several regions.
*With information from Agência Lusa. Translated by Mark Ament
