Why Oil Prices May Shoot Back Up

Why Oil Prices May Shoot Back Up

Price forecasts from the Organization of Petroleum Exporting Countries have never been particularly reliable, so it's easy do dismiss the latest one -- a "constant nominal price" of $110 per barrel of crude oil until the end of this decade, and $177 by 2040. It is, however, worth listening to OPEC secretary general Abdalla El-Badri when he says speculators played a major role in oil's recent spectacular slump, and prices may rise again next year.

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