02.04.2013 - Oil price set to fall but don't write off the commodity yet
Oil producers used to cushy prices of US$110 to $120 a barrel will soon have to brace themselves for leaner times, analysts predict. Many expect the oil price, boosted in the past two years by the Arab Spring and the West-Iran nuclear stand-off, to undergo a correction by the middle of this year. Current prices cannot solely be explained by the dynamics of supply and demand, says the International Energy Agency, the developed countries' energy watchdog. Regional national oil companies are preparing for a dip. Citi foresees oil prices dropping by the end of the decade to between $80 and $90 a barrel...............................................Full Article: Source
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