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local supply and demand.
The International Energy Agency (IEA) is forecasting 2012 oil demand to be marginally higher than
in 2011 due to tight supply offsetting the effect
of a weak global economy. If global economic growth should slow significantly, the Organization
of Petroleum Exporting Countries (OPEC) may
reduce production to prevent oil from dropping
much below $80 per barrel. The IEA predicts that
oil demand will be 89.2 million barrels per day in
2011 and 90.5 million barrels per day in 2012. The
U.S. Energy Information Administration (EIA)
has slightly lower estimates of 88.4 million and
89.8 million barrels per day in 2011 and 2012,
respectively. China and other emerging economies
will be responsible for this projected consumption
growth. EIA currently estimates that the average
WTI will be $99 per barrel in 2011 and $98 per
barrel in 2012. Retail Gasoline
The Colorado average retail price of automotive
gasoline through October 2011 was $3.47. This is
a $0.76 (28%) increase over the average 2010 price
of $2.71. The transportation sector is unlikely to...
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This note was uploaded on 02/11/2013 for the course MGMT 231 taught by Professor Yu during the Spring '13 term at Bauder.
- Spring '13
- The Lottery