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 |
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| No |
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Question suspends in 4 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)
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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 27 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 27 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 27 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 27 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 27 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
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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
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