Daniel Yergin says 40 USD a Barrel

Monday, October 12, 2009

- There is still a very large over capacity;
- Inventories are very high;
- This year world demand will be 83.5 millions barrel a day against 86 millions barrels a day 2 years ago;
- There will be a cap on oil prices
- The sense that the recovery will take longer than antecipated may create a 40 to 60 trading range;

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