Gasgoo.com (Shanghai February 25) - The State Council's Development Research Center's Institute of Market Economy (IME) released a report concerning trends in oil price fluctuation yesterday, Shanghai Securities News reported.
The report, written by IME researcher Deng Yusong, states that no matter how much prices rise, they will always be a peak price. The duration of this peak period is variable. The report continued to say that although the current rise in prices is in part due to external factors, the key cause is still excessive demand. As most countries have to rely on imported fuel to sustain domestic demand, fuel prices should continue rising.
Zhao Changhui, chief risk analyst for the Export-Import Bank of China, disagrees. Mr. Zhao places primary responsibility for rising oil prices on the turbulent situations in the Middle East, Nigeria and other oil-producing areas. Mr. Zhao also said that he expects the international market to break the $120 per barrel mark within the year.
