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

Oil prices may average $47-50 a barrel in 2009

Posted on 29 December 2008

From Livemint.com: Oil prices, which hit record highs above $147 (Rs7,041.30 at today’s rate) a barrel this year before plunging under $33, risk slumping more in 2009 as recession curbs world’s appetite for energy, analysts say.

Oil prices have tumbled by about 57% since the start of 2008 when they traded at about $95 per barrel. The market had doubled in value over the course of 2007 from a low point of just under $50 per barrel….. Full Article: Source


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