Last week brought with it changes in what had been the recent global trend; the dollar closed at the highest levels of the last five months and according to information published by the América Economía portal, the North American currency will continue to gain ground against the euro and the yen, which will consequently negatively affect Latin currencies. In addition, as the dollar appreciates, the price of raw materials will be affected, which has a direct impact on the economies of the countries of the region.
However, among the positive effects of the dollar's rally is the influence this has had on the price of oil, which reached US$115 a barrel. In addition, U.S. light crude WTI posted a decline of US $ 10.06 during the past week, this being its lowest value since the beginning of May and since the record price of more than US $ 147 a barrel will be registered on July 11.
The organization added that prices will not fall significantly from 2009, as producer countries are not making the necessary investments to increase their production capacity and face demand growth with guarantees. According to the agency's forecasts, demand from emerging countries will continue to grow to match that of developed countries in 2015; Asia, the Middle East and Latin America will account for 90% of global demand within five years.
Members of the agency also pointed out that in this year and next the demand for oil will be reduced due to the bad situation of the world economy, to recover gradually and reach 94.14 million barrels per day in 2013. To the IEA reports is added the study published by the Royal Institute of International Affairs, london, which states that the world will suffer a severe oil supply crisis within five to ten years unless there is a drastic drop in global demand. and predicts that as a result the price of crude oil could exceed $ 200 a barrel, as investments in new supplies are insufficient.
