| From Resource Investor: Two major banks released bearish forecasts for oil and natural gas prices Thursday, saying global economic turmoil is expected to further dampen energy demand.
RBC Capital Markets, the investment banking arm of Canada's biggest bank, is calling for an average 2009 oil price of $80 per barrel, down from its previous estimate of $90. But oil could dip below $60 per barrel if demand drops year-over-year — a phenomenon not seen since the early 1980s, the RBC report said...... Full Article: Source
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