Analyst Pin-board: Oil Prices
- Crude Oil prices (WTI and Brent) have broken above their 2016-17 range (see charts below).
- The impact on most Asian countries is significant.
- Asia consumes 35% of the 100mn bbl/ day of global consumption. China is around 10% of daily global consumption.
- Asia is the world’s smallest producing region accounting for less than 10% of global output.
- Rising oil prices shift the entire cost curve higher.
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