Low Oil Prices Not Here To Stay

Bloomberg reports that according to Global Energy Outlook published by Barclays Capital, international energy analysts expect the oil price to be $100 a barrel.

The market news is quoted as saying:

Sovereign debt problems in Europe and a lackluster U.S. economy, including consumer numbers on Friday, are all bearish news and data for oil near-term. However, given the current economic situations in the world economy compared with the housing and subsequent credit bubble burst in 2008 and 2009, Barclays expects oil price pressure on the downside is much different this time around.

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