Weakening demand and continuous build up of oil stocks has undone most of the previous price predictions. Merrill Lynch has revised its earlier forecast of US$107/barrel of oil in Q4, to US$78/barrel,, adding that a global recession next year could plummet oil prices to US$50 a barrel.
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Monday, November 03, 2008
Will oil prices sink to US$50 a barrel as global recession sets in next year?
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1 comments:
It could, but fifty dollars a barrel is deep into negative bubble territory.
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