Analysts push back recovery outlook to 2010

摘要

Banks and other forecasters have deferred an expected recovery in crude prices to next year.North Sea Dated will average just over 54/bl in the third quarter of this year,according to an Argus survey of analysts(see table).This is more than 10/bl lower than a similar poll taken in January(AGM,19 January,p2).Analysts do not see a recovery to 65/bl until 2010.And most say a rally to nearly 55/bl in March was a response to the anticipated effect of economic stimulus packages and lower interest rates on energy demand,and less a reflection of the prevailing imbalance between supply and demand.