Global oil market complacent about price risks from disruptions:analysts

The global oil market may be overly complacent about price risks now because there is not a significant amount of spare production capacity available if geopolitical events impact oil supplies from key parts of the world, analysts say.

"I think we're kind of in a moment where the market thinks everything is just fine," Helima Croft, managing director at RBC Capital Markets, said at an Oct.8 event hosted by the Atlantic Council in Washington.

But, Croft said, "If we actually had a test of spare capacity and needing additional volumes, we are not in the best shape."

Oil prices have been trading in a narrow range since early August, with NYMEX front-month crude lingering mostly between $60/b and $65/b