Aug.12:
"This sharp increase in demand - and the prospect of non-OECD economies holding oil consumption at elevated levels -is transforming the medium-term outlook for oil prices.
Although speculative trading may be adding a premium to current spot prices, the fundamental outlook for oil has changed enough for investors to sharply revise higher price forecasts.
ABN AMRO's global energy team yesterday revised
higher its forecasts, lifting its WTI forecasts to $40 (was $30) for 2005 and $38 (was $27) for 2006".
Disclaimer follows.
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I have mentioned $40 for some time now so I agree with their assessment. Obviously, there will be fluctuations.
Gerry
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks.
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