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Commodities Briefing - Categorized | Oil, Price Watch, Research more

Oil prices to extend slump in 2009: analysts

Posted on 17 December 2008

From Khaleejtimes.com: Oil prices, which rocketed to record highs above 147 dollars a barrel in 2008 before plunging to 40 dollars, risk slumping further in 2009 as commodity demand softens amid recession, analysts say.

“Heading into 2009, we believe many commodity prices are set to overshoot to the downside in response to the worst downturn in economic activity since the Great Depression,” said Deutsche Bank analyst Michael Lewis….. Full Article: Source


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