January 2012

HPI 2012 Forecast

2012: A year of change

When 2011 began, the expectation was for most global economies to continue a steady trajectory of growth. For the energy industry, growth in most sectors was actually higher than expected in 2010, lea..

When 2011 began, the expectation was for most global economies to continue a steady trajectory of growth. For the energy industry, growth in most sectors was actually higher than expected in 2010, leading to projections of a sustained recovery. But the early part of 2011 was marred by constant worries over political turmoil in the Middle East. By mid-2011, worries escalated on the back of economic troubles in developed areas such as the US and Europe. Stock markets tanked as reports showed softening consumer spending, rising debt and stubbornly high unemployment figures. Crude prices plunged about $20/bbl as worries persisted about overall demand for commodities. On a global market excha

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