Friday, December 9, 2011

Don?t bet on big fall in oil, even with slowdown

With debt crises either side of the Atlantic, Europe flirting with recession and Libyan oilfields returning to production, it is tempting to be bearish on oil.

Despite all the financial and economic gloom, 2011 has been a record year for oil with Brent crude at its highest-ever average above $110 per barrel, and few analysts forecast a big drop in price, even those who expect an economic slowdown.

World oil demand is growing and, if supplies don?t increase, either inventories have to fall or prices rise: both have been happening
Copyright 2011 Al Hilal Publishing & Marketing Group

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Source: http://www.albawaba.com/don%E2%80%99t-bet-big-fall-oil-even-slowdown-404254

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