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Where analysts see oil prices in 2012

Posted on 22 December 2011

Brent crude will average $105 (U.S.) a barrel next year, not far below this year’s record high average near $111, a Reuters poll found. A quarter of analysts have reduced their forecasts since a similar poll a month ago because of worries about the impact of the euro zone debt crisis on economic growth.
But respondents think oil will remain expensive because of worries about supplies from producers Iraq and Kazakhstan and the possibility that tighter sanctions could curb Iranian oil sales. Low crude stocks and strong diesel demand also are supporting prices………………………………………..Full Article: Source


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