The impact could be quite devastating on the oil price.
This extract from the most recent Alaron Energy Report is a pointer to where things may head:
"The impact of the outcome of the Yukos trial could have an immediate effect on the world's oil supply. Yukos warned yesterday that this huge back tax bill could force them to stop pumping oil and if that happens, 2% of the world's supply of oil will come off the market. It could amount to 1.7 million barrels of oil per day off the world market and it comes at a terrible time. OPEC acknowledged yesterday they are producing at near full capacity and world oil demand continues to rise. This Yukos oil is high coveted in Europe as it provides them with heating oil and winter will come soon enough. It's 1.7 million barrels per day and if it comes out of the market place, the impact will immediate and substantial. "
