24.02.2015 - Oil price turbulence: will it climb to $100 or drop to $10?
The oil price fell again today after a week of small gains and losses in which a barrel of Brent crude hovered around the $60 mark. A strengthening dollar and concerns about long-term oversupply offset reduced output due to freezing weather and industrial action in the US, Reuters reports. But the oil price remains at little more than half its peak in June last year, and some analysts predict it may yet fall far lower. Others claim the price has now bottomed out. Last week, Bloomberg's A. Gary Shilling predicted the possibility of oil at $10 per barrel – a far cry from the predictions of T. Boone Pickens, who towards the end of last year anticipated a return to an oil price of $100 within 12 to 18 months...............................................Full Article: Source
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