Bloomberg: Crude oil will collapse to $20 a barrel this year as the recession takes a deeper toll on fuel demand, according to academic and former U.S. government adviser Philip Verleger. A crude surplus of 100 million barrels* will accumulate by the end of the year , straining global storage capacity and sending prices to a seven-year low, said Verleger, who correctly predicted in 2007 that prices were set to exceed $100. Supply is outpacing demand by about 1 million barrels a day, he said. Story.
Verleger, The Kudlow Report, July 8:
* The world crude oil consumption is about 85mm barrels per day.
Mahalanobis - am 2009-07-16 11:24
Teresa (guest) meinte am 21. Jul, 01:42:
Verleger Interviewed on Bloomberg
Verleger Sees $20 Oil This Year on Supply, Limited StorageJuly 20 (Bloomberg) -- Philip Verleger, economist and founder of PKVerleger LLC, a professor at the University of Calgary's Haskayne School of Business and a former U.S. government adviser, talks with Bloomberg's Tom Keene about oil and gasoline prices, global fuel demand and a shortage of storage capacity.
http://media.bloomberg.com/bb/avfile/Economics/On_Economy/vHHE4QWaAwIs.mp3
