Middle East Economic Survey
VOL. XLVII
No 25
21-June-2004
OIL PRICES
Next Big Move In Oil Prices Should Be Downwards, Says Merrill Lynch
While WTI crude recently reached an all-time trading high of $43.23/B, triggering predictions of $50/B oil and continued high prices, the next $10/B move in prices should be downwards, barring a disastrous supply problem, according to Merrill Lynch. In The Market Economist of 10 June, a team of Merrill Lynch analysts led by First Vice-President David A Rosenberg...
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