POLL-Oil to avg record $81 this year despite U.S. slowdown |
| Forbes - Jan 25, 2008 |
Oil will climb to a record average above $81 this year, a Reuters poll showed on Friday, as analysts believe strong Chinese and Middle East demand will offset any slowdown from top energy consumer the United States.
The monthly survey of 33 analysts put the consensus forecast for U.S. crude futures in 2008 at an average of $81.33 a barrel, up $3.71 from last month's poll. The average price for oil last year was $72.30. Oil's six-year rally, which has seen prices surge above $100 earlier this month, has largely been fueled by booming economies in China, India and the Middle East.
Analysts said they do not see any evidence of this demand waning despite concerns of a global economic slowdown led by the United States.
Read Full Article from Forbes
- Posted: 2008-01-25 11:16:47
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