OPEC: how do a limited amount and protection of prices impact?
Organization of Petroleum Exporting Countries (OPEC) weekly average oil prices since July this year created a record high of 138 U.S. dollars a barrel after have went all the way down, and the minimum fell to 45.4 U.S. dollars per barrel, as the lowest point of OPEC for near 3 years and a half.
Merrill Lynch cut the price of crude oil which is expected in 2009 to 50 U.S. dollars / barrel
Merrill Lynch & Co. (MerrillLynchCo.) Wednesday said that global economic growth prospect was gloomy and global demand for crude oil shrank, so the company will in 2009 from the oil price of 90 U.S. dollars per barrel down to 50 U.S. dollars. At the same time, the world’s gross domestic product (GDP) estimates of Merrill Lynch next year will adjust to 1.3 percent of increasment.
International crude oil market with the delicate patternIn 2008 the trend of crude oil is the most spectacular of the year. In that year, not only the price of crude oil broke through 100 U.S. dollars / barrel, but also broke through the 110,120,130,140 U.S. dollars / barrel and other important prices, and eventually broke through 147 U.S. dollars / barrel. However, while strong crude oil prices at a time the United States announced in early July the second quarter economic data which showed U.S. economy unable to resume growth this year.
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