Bloomberg News

Citigroup’s Morse Says Rising Oil Price May Reduce Demand

February 27, 2012

Crude oil is reaching a “tipping point” where prices will threaten demand, Edward Morse, head of commodities research at Citigroup Global Markets Inc., told Erik Schatzker on Bloomberg Television’s “InsideTrack.”

“If the price gets much higher, we will see it as a tax on the consumer globally and demand will almost certainly come down,” Morse said.

Brent oil can’t sustain a level above $125 a barrel, according to Morse.

To contact the reporter on this story: Paul Burkhardt in New York at pburkhardt@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net


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