The oil price has climbed due to the tension in the Middle East, with Goldman Sachs predicting that geopolitical risk could add as much as $10 a barrel to the cost of Brent crude.
Meanwhile, oil cartel Opec has kept its forecast for global oil unchanged for this year and next year, with the market facing increased uncertainty as far as drivers of supply and demand are concerned. Business Day TV spoke to Charles Kieck, director of research at Afriforesight, about what may lie ahead.
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