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Exporting Petroleum Countries

March 23rd, 2014

Since reference became, an important aspect within the analysis of the subjects boarded by the group of the 8 is the related one to the present effects of the prices of petroleum (that already we have commented in other publications) On the matter, it is of public knowledge, that the ministers of Finances of the G8 remain divided envelope where to look for the causes of the ascent of the prices of petroleum. The United States and the United Kingdom attribute the increase of the prices to the growth of the global demand, whereas France, Germany and Italy blame to the speculation. Nevertheless as spanish.peopledaily.com.cn relates, the experts notice that the weak dollar is partly responsible for the scaling of prices of the crude one, since the investors hurry in buying raw materials like petroleum to protect themselves against the inflation and to take safe values before the struck stock market. The president of the Organization of Exporting Petroleum Countries (OPEC), Chakib Khelil, commented. that besides the devaluation of dollar the USA and the inflation, the geopolitical context, with the existing tension between Iran and the West, and the impact of bioetanol, able to reduce the diesel engine production, also has contributed to the ascent of prices. In its annual report on the market of medium term petroleum, the Agency the International of the Energy indicated that the markets of crude will stay tense in the mid term although the prices in ascent and the slow economic growth debilitate the increase of the demand. Since world-wide the economic growth trusts much a cheap energy, the increase of the prices of fuels and foods has darkened the sustainable growth. In agreement with a report of the International Monetary Fund (the IMF), the impact felt more in dependent the poor countries and of average rent of the petroleum import, which are to confront problems like a high inflation and a made worse poverty.


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