Analysts: Oil prices could go to $50

Analysts have forecast that oil prices could rise to $50 a barrel and that OPEC will not be able to meet fourth quarter demand.

Wed, 04 Aug, 2004 - 12:38

Analysts have forecast that oil prices could rise to $50 a barrel and that OPEC will not be able to meet fourth quarter demand.

Oil analyst Richard Griffiths, at Williams de Broe, said such a rise was feasible, but only if there was major disruption to oil supplies coupled with evidence of renewed demand strength.

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