Even though the supply in the market is currently still sufficient, we believe that the wave of revolutions will continue to roll and could thus push the oil price to new highs.(Note that we are already >$100/brl and they've done nothing)
The wait-and-see stance taken by OPEC also contributed to the recent price increases. At its latest meeting, the organisation had indicated that it would only intervene from USD 100/barrel onwards.
http://www.zerohedge.com/article/erste-oil-special-report-force-majeure-middle-east
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