Iran's Oil Minister and President of the Organisation of Petroleum Exporting Countries (OPEC) Masoud Mir-Kazemi stated economic growth in Asia may push oil prices over USD100/barrel (Bloomberg, 19-Jan-2011). He said: “Economic growth in Asia is better than in Europe, and we hope that it increases and that oil prices increase. Prices of USD100 and above are not worrisome for producers.” OPEC stated it would need to increase daily production by 400,000 barrels to 29.4 million due to surging Asian demand. Crude is near its highest price in 27 months in New York.
OPEC sees increased demand from Asia
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While it was acknowledged that progress on major deals was not going to happen overnight, the hope was that as layers of sanctions came down, Iran would be embraced by the rest of the world. In return, Iran was expected to open itself up progressively to foreign trade and investment, and to travel.
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This unique CAPA-ACTE Summit will explore how airline partnerships, joint ventures, new airlines and disruptive entrants and technologies will completely alter the competitive dynamic by 2025. Additionally, as new trade routes expand, many new airports and air services will also open.
The next 10 years will witness the most remarkable changes in aviation. The challenges and opportunities they bring will be of similar magnitude.
This singular event, bringing together top level representative of airlines, airports, aviation suppliers and corporate buyers, will embark on an exploration of what the airline industry is likely to face in this coming decade.