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Commodities Briefing - Categorized | Oil, Price Watch more

Gloomy oil executives see recession, lower prices

Posted on 14 October 2011

The oil industry has an overwhelmingly gloomy economic outlook, expecting recession in the next year, less demand for fuel and lower oil prices, a survey of delegates to a major industry conference showed this week.
Seventy-seven percent of participants at the annual Oil & Money conference on Tuesday and Wednesday in London said the chances of another recession in the world’s developed economies of the OECD were high with only 23 percent seeing them as low………………………………………Full Article: Source


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