But according to francisco blanch of merrill lynch , the rising cost of capital is likely to outweigh all these benefits .
但美林的franciscoblanch称：资本成本的上升有可能超过其收益。
Francisco blanch , merrill 's global head of commodity research , says oil demand growth in emerging markets has never contracted year-on-year in the modern era .
Francisco blanch , an analyst at merrill lynch , calculates that a 50 % increase in the wholesale price of petrol reduces demand by only 1 % .
据美林证券公司分析师franciscoblanch估计，汽油批发价上涨50%，其需求只会减少1%。
' Supply has caught up with demand in a number of commodity markets , ' says francisco blanch , head of global commodity research at bank of america-merrill lynch in new york .
Francisco blanch , head of commodities research at merrill lynch in london , said his main scenario was for oil prices to average $ 50 a barrel next year but warned : " a temporary drop below $ 25 is possible if the global recession extends to china . "
