Created Thu 4th Dec 2008 3pm PST by 
pixelpaws
pixelpaws Will crude oil fall below $25 per barrel in 2009?
Background: Dec. 4 (Bloomberg) -- Crude oil may dip below $25 a barrel next year if the recession that’s slashing fuel demand around the world spreads to China, Merrill Lynch & Co. said. -- http://www.bloomberg.com/apps/news?pid=20601087&sid=acgAzpwrcUfQ&refer=home
So, will Merril's prediction pan out? Will we fall all the way below $25?
So, will Merril's prediction pan out? Will we fall all the way below $25?
Settlement details:As reported by a major mainstream news source.
Forecast history %
| Yes |
| ||||
| No |
|
Question suspends in 6 weeks
- Activity: H$113,123 |
- Predictions: 68 |
Comments: 1
Get widget!Predictions (68)
pmk2668
predicted No (H$10,000 at 97%)
vixen
predicted No (H$100 at 96%)
tuff_sledding![[Power User]](http://www.hubdub.com/images/icon_superuser.gif "This user is a super user"){kind=icon}
predicted No (H$5,000 at 96%)
exoarz
predicted No (H$100 at 94%)Comments (1)
Stake virtual dollars on the outcomes of real news stories! Win more if you're right and climb the leaderboards Learn more...
By joining you are agreeing to our terms of service
Related News 
This news is selected automatically based on the question, its background, options and tags
This news is selected automatically based on the question, its background, options and tags
score: 10
Forbes.com 25 weeks ago
MARKETS-OIL (UPDATE 5):UPDATE 5- * OPEC further reduces 2009 world oil demand forecast * U.S. April retail sales fell 0.4 percent * U.S. EIA weekly oil inventory report due 1430 GMT * China's refinery output accelerated in
score: 10
Forbes.com 25 weeks ago
MARKETS-OIL (UPDATE 4):UPDATE 4- * OPEC further reduces 2009 world oil demand forecast * U.S. EIA weekly oil inventory report at 1430 GMT * China's refinery output accelerated in April (Updates prices, adds OPEC report) LONDON, May 13 (Reuters
score: 10
CNBC 25 weeks ago
Oil retreated below $59 a barrel on Wednesday, after hitting a six-month high the previous day, after a U.S. inventory report showed an unexpected drop in crude stockpiles in the
score: 10
Reuters 25 weeks ago
LONDON (Reuters) - Oil rose toward $60 a barrel on Wednesday, after hitting a six-month high the previous day, after a U.S. inventory report showed an unexpected drop in crude stocks in the
score: 10
Reuters 25 weeks ago
LONDON (Reuters) - Oil rose toward $60 a barrel on Wednesday, after hitting a six-month high the previous day, after a U.S. inventory report showed an unexpected drop in crude stocks in the
Related Tags
Here some more from the article cited:
"Crude oil may dip below $25 a barrel next year if the recession that’s slashing fuel demand around the world spreads to China, Merrill Lynch & Co. said.
Global oil demand will contract in 2009 as economic growth slows to its weakest since 1982, Merrill Commodity Strategist Francisco Blanch said in a report today. In October, when oil was around $100 a barrel, the bank predicted that prices may slide to $50. Crude traded at $45.30 in New York today, the lowest since February 2005.
“A temporary drop below $25 a barrel is possible if the global recession extends to China and significant non-OPEC cuts are required,” Blanch said. “In the short-run, global oil demand growth will likely take a further beating as banks continue to cut credit to consumers and corporations.”
Crude hasn’t fallen below $25 a barrel on the New York Mercantile Exchange since November 2002"
http://www.bloomberg.com/apps/news?pid=20601087&sid=acgAzpwrcUfQ&refer=home
Please log in or join to add a comment