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DanG
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OPEC SEES OIL AT $170 IN COMING MONTHS
| Quote From Source: | Crude oil prices could rise to as high as $170 per barrel in the coming months but are unlikely to hit $200 and should ease towards the end of the year, OPEC President Chakib Khelil said in an interview on Thursday.
"I forecast prices probably between $150-170 during this summer. That will perhaps ease towards the end of the year," he told France 24 television, according to a text of the interview released by the station.
The head of the Organisation of Petroleum Exporting Countries, said it had been clearly established that speculation was impacting markets.
"It's not a question, but a certainty. The problem is the extent of that speculation on the market," he said, adding that the effect of the subprime crisis in the United States had affected oil markets.
| | Click source url to view entire story. |
http://www.reuters.com/artic...dUSPAB00415020080626?sp=true
5 bucks a gallon sound like fun ?
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Indy
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I also remember the stories about how $80 and $100 would be unlikely without a major supply disruption. We are approaching $140 with no disruption.
"I think God gives us children so death won't come as such a disappointment." - Two and a Half Men |
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DanG
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posted on 6/26/2008 at 11:31
