Business News • MarketWire • Do You Really Expect Lower Oil Prices in 2010? |
Do You Really Expect Lower Oil Prices in 2010? |
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Do You Really Expect Lower Oil Prices in 2010?
JOHANNESBURG, SOUTH AFRICA--(Marketwire - March 3, 2010) - Oil prices worldwide bottomed
out last December around $33 per barrel. That price always comes to mind
because it was a few days after OPEC announced another round of production
cuts. It was only until recently that oil prices slid below $70 per
barrel. That trend is about to change over the next decade. Companies will
continue to spend record amounts of money on new investments. But if we've
learned anything from 2008/09, it's the public tolerance for oil prices. If
people were suspicious of $100/bbl oil, they were outraged by $147/bbl by
July. A return to triple-digit prices is inevitable; that's also assuming
we see a strong demand recovery in the latter half of 2010. See what our
oil & gas analysts, at www.rothmanresearch.com, have to say about this
sector.
View More : http://www.marketwire.com/mw/release.do?id=1125968&sourceType=3
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