Wednesday, July 18, 2007

Barclays Capital Raises 2008 Brent Crude Oil Price Forecast by 11 Percent

(Bloomberg) -- Barclays Capital raised its 2008
price forecasts for Brent crude oil by 11 percent, citing rising
demand and a lack of growth in non-OPEC production.

Brent will average $73.60 a barrel next year, up $7.40 from
the previous forecast, the London-based investment bank said in a
report yesterday. West Texas Intermediate crude, the U.S.
benchmark grade, will average $73.90, a $6.60-a-barrel increase.


Read more at Bloomberg Energy News

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