Factors in the U.S. will keep moving oil prices. The U.S. will continue to import oil products to feed its growing economy. |
Oil demand in the U.S., China and India is expected to rise further. Supplies, especially of sweet crude oil, will increase only slightly compared with the growth in demand. |
The country is short of refining capacity. If something happens to cut that, like an accident, prices could rise to $70. |
There are many plans to build refineries, but with rising construction costs and a shortage of project engineers, expansion isn't that easy. Until this new capacity comes on stream, oil market swings will depend on the U.S. situation. |