Oil Price Forecasts: Somewhere Between US$100 and US$175

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By Rudi Filapek-Vandyck

The issue has without any doubt become one of the hottest issues among global experts and investors: how high can the oil price go? Closely related matters are equally divisive and contentious: what exactly is driving oil prices? And: if a price correction will kick in, eventually, how low will the price go?

The team of TV reporters at Sky Business has done its own survey into the matter and, as expected, the results of the Australian experts poll reveal a wide range in expectations. Share market bull, AMP’s market strategist Shane Oliver, shows up with the lowest price forecast for December this year. Oliver’s forecast of US$100 per barrel is 75% lower than the highest price forecasts generated by the survey.

The majority of experts is situated within a forecast oil price range of US$115-130, though there is also a cluster of expert price forecasts around US$155-160 per barrel.

To view the overview of expectations from the poll, simply visit the website http://www.businesschannel.com.au and click on the oil poll banner or go directly via the following link: http://www.businesschannel.com.au/features/petrol-oil_070708.aspx

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