Where Are Oil Prices Headed?
July 1, 2008 · Filed Under Oil & Natural Gas, Retail & Spot Prices
A recent presentation by EIA looks at oil prices and market conditions such as surplus capacity, increasing demand, and dollar depreciation, behind a six year 500% increase in oil prices. The forecast for ongoing demand growth is quite clear, while the forecast for oil production growth is mostly cloudy, and the only certainty about the price of oil is that it will change.
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