After the banking crisis, the oil price is the next major threat to the euro zone, analysts told CNBC, arguing that prices will rise once the shale oil revolution in the United States dies down and that the weakened region could be priced out.
The longevity of the shale oil revolution in the U.S. has divided analysts, with PricewaterhouseCoopers (PwC) predicting the boom in shale oil production will shave as much as 40 percent off oil prices by 2035.
Others argue that ultimately, exports from the Organization of Petroleum Exporting Countries (OPEC) drive supply and demand for the European Union (EU) and as they shrink, oil prices will rise, leaving the euro zone facing an energy supply problem.
(Read More: Even in an Oil Boom, Production Growth Is Slow)
Brent crude prices fell by $1.80 -- their biggest slide since May 1 – on Wednesday after a report from the American Petroleum Institute showed a 4.4 million barrel increase in U.S. crude inventories for the week to May 24. The figure was much higher than a Reuters forecast of a fall of 400,000 barrels.
"I think oil prices as they are right now are going to be unsustainable. There is all this 'oomph' about shale oil, but it does not alter the fact that there is still a shrinking amount of exportable capacity in OPEC and that's what drives the supply and demand scenario for the European Union," said Daniel Lacalle, senior portfolio manager at investment management firm Ecofin, on Tuesday.
"I think Brent getting stronger to WTI (light sweet crude) is a very likely picture in the coming months,"
As the euro zone is so far behind other developed nations in its attempts to return to growth, it could struggle to meet rising oil costs.
(Read More: Brent Crude at $80? It Could Happen by Year-End)