MARKETS: Bank sees crude oil at US$225 p/b by 2012, criticises IEA’s use of NGLs in supply data

(EnergyAsia, April 28, Monday) — A leading Canadian bank has predicted that crude oil will surge to US$150 by 2010 and US$225 a barrel by 2012 on growing supply scarcity and continued rising global demand. In a new energy report, CIBC World Markets also criticised the International Energy Agency (IEA) for including natural gas liquids…