Oil prices are expected to hover of near 100 dollars per barrel as analysts forecast another tense crude market next year with triple-figure records a real prospect. Despite a bad shape outlook for the world economy including the major consumer countries and especially United States, crude prices are seen settling at elevated levels with oil comfortably above $90, fueling steady flow of petrodollars for the world's oil exporters.
Goldman Sachs is raising its average benchmark price for US oil to %95, a spike of 10 dollars from previous
year. The price could reach 105 dollars by the end of 2008 as predicted by many analysts.
Much of the price hike is at the mercy of OPEC the organisation that pumps 40 percent of world oil. Oil has become a key financial indicator attracting different kinds of investors from hedge funds to even pension funds whose stance are usually very conservative in investment portfolio.
We expect that petrochemical products will follow oil prices to be on the high side in 2008.
Goldman Sachs is raising its average benchmark price for US oil to %95, a spike of 10 dollars from previous
year. The price could reach 105 dollars by the end of 2008 as predicted by many analysts.
Much of the price hike is at the mercy of OPEC the organisation that pumps 40 percent of world oil. Oil has become a key financial indicator attracting different kinds of investors from hedge funds to even pension funds whose stance are usually very conservative in investment portfolio.
We expect that petrochemical products will follow oil prices to be on the high side in 2008.
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