| CNBC ran an article about a prediction by FACTS Global Energy that oil could drop to $35 a barrel soon, and then go much lower. Saudi officials say they will keep production at the levels they are now. Slowing economies in the European Union and China will cripple demand for crude. Citigroup analysts have not retracted their prediction that oil will drop to $20. The forecasts of a collapse of oil prices, so loud in February, have returned.
While some of the forecasts for the fall in oil prices are bogus, others have some merit. Perhaps companies holding crude will find more tankers to keep oil out at sea. No one knows how many tankers that might be, or whether their capacity has been filled...............................................Full Article: Source
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