| From Bloomberg: Oil may rise to the second-highest annual level on record next year on demand from China, India and Brazil, upsetting OPEC and threatening the nascent recovery in developed countries.
West Texas Intermediate crude, the U.S. benchmark grade, will average $85 in 2011, compared with $77.70 this year, according to the median of 23 analyst forecasts in a Bloomberg News survey, the highest price for any year except for $99.75 in 2008. Goldman Sachs Group Inc., which correctly predicted a year ago that oil would reach $85 a barrel by the end of 2009, said oil’s mean price will be $100 next year...........................................Full Article: Source
|