Merrill Lynch predicts that oil could drop to $50 a barrel next year.This is still a "could", but it does go to show that maybe all that "We're DOOOOOOOMED!" talk of a couple months ago had a tinge of panic behind it.
Friday, 3 October 2008
Barrelling Down
Merrill Lynch predicts that oil could drop to $50 a barrel next year.This is still a "could", but it does go to show that maybe all that "We're DOOOOOOOMED!" talk of a couple months ago had a tinge of panic behind it.
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The Oil price drop may have something to do with oil traders expecting economic woes to severely reduce demand for petroleum.
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