Societe Generale predicts that the conflict in Syria may force oil prices to rocket to $150 per barrel. Its analysts forecast $125 per barrel, should the situation in the Middle East, the region with 37% of world oil extraction, become destabilized.
Tribeca Investment Partners and JBC Energy say that Western intervention in Syria may cause a regional conflict. The situation affected oil imports of India, Turkey, Indonesia and Thailand. The Indian rupee dropped to its lowest price in the last 20 years.
Andrey Lusnikov, an analyst of the Finmarket Agency, called the forecasts justified. The conflict caused certain problems with oil transfers from the Gulf. The crisis may affect neighbouring states, he said. The expert noted that the biggest fears were provoked by possible involvement of Iran in the Syrian conflict. However, he does not expect the oil prices to reach $150 per barrel.
The Russian tax system is organized in such a way that, as soon as the oil prices start rising, additional income will automatically be paid to funds to increase expenses in the future. Russia will only make profit from such situation, Lusnikov noted.
However, the process may trigger inflation. But on the other hand, there would still be economic growth.
Concerning the US, UK and France, the oil prices do not play a decisive role for them, because they have priorities in other fields, the experts supposes. Rising oil prices would be disadvantages for them because of all their oil imports.
