Crude oil at 40 dollars
Posted by admin . Published on 20 March 2009, Received
Crude oil prices were at record high 140 plus dollars a year back and nobody predicted it to come crashing like hell in the last few quarters. The drop has been so steep that OPEC is planning for another round of production cut to stem further price drop.
The crude prices are currently in the 35 – 45 dollars band , and with very weak economic conditions in US, Europe and Japan, price reversal is unlikely in the near future. Prices may also not go down below 40 dollars since all bad news seem to be factored in already.
