Our Petroleum Wednesday continues, with EIA’s latest monthly forecast, which was prepared before the recent drop in the near-month futures price to just above $50 per barrel, projected WTI prices to stay above $50 per barrel and the U.S. average retail price for regular gasoline to remain above $2 per gallon on a monthly basis through 2006.
click for larger chart
The key to this is the expected ramp up in China’s demand for Oil. (More on this later).
This Week In Petroleum
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April 20, 2005