From Bloomberg:
"[Merrill Lynch analyst Francisco] Blanch changed his 2009 price forecast at least four times this year as the worst global slowdown since 2001 spreads. His most recent estimate that crude may fall to $25 came on Nov. 26. The Organization of Petroleum Exporting Countries’ 13 members meet in Oran, Algeria, tomorrow to try to stem crude’s decline."Here is the full story.
My translation of this is to expect a wild ride in the energy sector. The supply and demand parameters for energy appear to be a moving target.
