Deutsche Bank: oil to drop as low as $30 by the end of 2009

[Meadie]

Oil Outlook to Worsen as OPEC Action Fails, Deutsche Bank Says - By Samantha Zee

Dec. 10 (Bloomberg) -- A likely cut in crude oil production by OPEC will fail to support prices because of weakening demand, with oil potentially dropping as low as $30 a barrel by the end of next year, Deutsche Bank AG said in a report.

Since 1993, the Organization of Petroleum Exporting Countries has acted a dozen times to cut output and reduce quotas to defend the crude oil price, with just “a 75 percent success rate,” Chief Energy Economist Adam Sieminski wrote.

Oil prices have tumbled 70 percent since reaching a record $147.27 a barrel in New York on July 11 as the worst financial crisis since the Great Depression grips the global economy. Oil traded at $43.69 at 9:25 a.m. Singapore time. OPEC is unable to cut production as fast as demand growth for the fuel is slowing, the analysts said.

“We continue to believe that weak economic growth is likely to have a much greater impact on oil demand growth than is currently factored into consensus supply and demand forecasts,” Sieminski wrote in the report, dated Dec. 5. “We believe that OPEC would eventually be able to put a floor under the oil price, but not until the end of 2009.”

http://www.bloomberg.com/apps/news?pid= ... fer=energy

[Stanislav]

Ну когда же, когда же бензин будет по 50 копеек?

[Vims]

Ну когда же, когда же бензин будет по 50 копеек?

уже был