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    Higher Oil Prices: Asian Perspective and Implications for 2004-2005

    Park, Cyn-Young | June 2004
    Abstract
    Higher oil prices are descending upon the nascent global economic recovery. Strong demand growth driven by the global recovery, combined with continuing instability in the Middle East, appears to underpin the oil price rally. The latest data on oil production and consumption from the International Energy Agency (IEA) suggest that tight supply conditions continue on higher than expected growth in global demand, partly reflecting fast-growing energy demand from Asia. Given the relatively low inventory level and the limited refinery capacity, effects of supply interruption can be quite detrimental, which spurs speculative activities. The risk premium on fear of terror in addition to the tight market outlook appears to send the price of oil futures even higher in the short run. The development in the futures market - partly responsible for the hike of oil prices - implies that the recent rally in oil prices could stay.
    Citation
    Park, Cyn-Young. 2004. Higher Oil Prices: Asian Perspective and Implications for 2004-2005. © Asian Development Bank. http://hdl.handle.net/11540/1447. License: CC BY 3.0 IGO.
    ISSN
    1655-5260
    Keywords
    Aid And Development
    Asian Development Bank
    Comprehensive Development Framework
    Development Cooperation
    Development Management
    Development Planning
    Development Strategies
    Gas Development
    Gas Market Development
    Oil and Gas Industry
    Natural Gas Industry
    Gas Industry
    Rural planning
    Aid coordination
    Industrial projects
    Infrastructure projects
    Natural resources policy
    Educational development
    Gas Reserve
    Gas Distribution
    Oil and Gas Leases
    Natural Gas
    Communication in rural development
    Communication in community development
    Economic development projects
    Development banks
    Economic forecasting
    Environmental auditing
    Cumulative effects assessment
    Human rights and globalization
    Gasoline
    Natural gas supply
    Offshore oil and gas leases
    Gas leases
    Natural gas reserves
    Fertilizers and manures
    Gasoline pump industry
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    Citable URI
    http://hdl.handle.net/11540/1447
    Metadata
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    Author
    Park, Cyn-Young
    Theme
    Development
    Industry
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise