"If the Gulf War can be resolved, that will greatly relieve tensions within OPEC," argues Mehdi Varzi, senior oil analyst for Kleinwort Grieveson Securities Ltd. in London.Today in 1988, the price of Brent crude traded in London at $15.15. Many analysts, such as Varzi, fear that oil prices could well advance to $18 a barrel by year-end.The oil market indicates very clearly the degree to which the eight-year war has isolated Iran. Before the conflict started, exports represented about 20 percent of Iran's gross national product. In 1987, they came to represent less than 4 percent. Read full story
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment