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Global oil prices seen easing in 2005

2007 writes: Global oil prices should retreat in 2005, barring big political shocks, after surging 32 percent this year, the International Energy Agency's chief economist Fatih Birol told Reuters in an interview.

"We think, in general, demand will grow a little less in 2005. We think supply will increase in a positive way. If there is no significant geo-political event, we can say oil prices will find more moderate levels in 2005," Birol said late on Wednesday.

CNN

Posted on Thursday, December 30 @ 10:05:54 PST by aaron

Most read story about Consumption; Demand; Prices:
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Re: Global oil prices seen easing in 2005 (Score: 1)
by No-Oil on Friday, December 31 @ 05:44:48 PST
(User Info | Send a Message) http://www.cwbr22088.pwp.blueyonder.co.uk/

And so the cycle will continue, until there is no further production capability & the supply rolls over. Increased cost, will always mean reduced demand, which leads to reduced costs & increased demand ! Just look at the 70's oil crisis for a vision of the future. If the price had stayed high after 1973, then we wouldn't have to worry for around another 30-50years !

At least all the corrupt leaders will get their come upance when the time comes !

They should be forcing the price up continually like the Germans are doing to force development of alternatives, rather than the short sighted economic shame of trying to lower the cost artificially to bolster a few corrupt individuals bank accounts !

WAKE UP! (Score: 1)
by BabyPeanut on Friday, December 31 @ 09:51:46 PST
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Oil has been trading at over $40 a barrel for more than five months now. If you could reduced the price of oil one penny for every article that talked about the falling price of oil you could be paid to cart the stuff off.

Re: Global oil prices seen easing in 2005 (Score: 1)
by ordinance98 on Tuesday, May 30 @ 12:25:22 PDT
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Re: Global oil prices seen easing in 2005 (Score: 1)
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