Boston, US-based energy consultants ESAI has predicted oil prices will weaken from current levels by early next year as a result of OPEC’s continued overproduction. It said that high US refinery runs, continued violence in Iraq, and weather related concerns from Hurricane Ivan are all supporting WTI prices in a bullish move back over $45/bbl….
ESAI predicts that crude price will fall early next year, but stay above US$40/barrel for 2004
Posted on September 28, 2004 by EnergyAsia