$20 Oil This Year on ‘Devastating’ Glut

20/07/2009 § Leave a comment

 

Crude oil will collapse to $20 a barrel this year as the recession takes a deeper toll on fuel demand, according to academic and former U.S. government adviser Philip Verleger.

His thinking is sound IF the US Dollar remains at its current strength.

Verleger Sees $20 Oil This Year on ‘Devastating’ Glut (Update1) – Bloomberg.com

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