SYDNEY (AFX-ASIA) – Merrill Lynch is raising its 2002 oil price forecast to US$25 per barrel from US$24 on expectations that inventory will fall below normal levels over the next few months following improvements in market fundamentals. Analysts with the brokerage said in a research note that OPEC is likely to increase production by the…
MARKETS: Merill upgrades forecast 2002 oil price forecast to US$25/barrel
Posted on September 19, 2002 by EnergyAsia