Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

OECD Predicts $190 Oil In Seven Years

Rob WileMar 9, 2013, 03:06 IST

A new report from the OECD says the price of Brent crude will hit $190 (h/t FT).

The reason is that worldwide demand is set to rebound — the group says should world growth return to anything close to pre-crisis rates there will be a commensurate price increase "far above early 2012" levels.

Here's the chart:

The only thing that could keep prices contained is if demand becomes much more sensitive to prices, something that the papers authors say doesn't actually happen much today.