|
Economy / 22.12.2008 13:53 CERA forecast a jump in spare capacity
Cambridge Energy Research Associates predicted a 300,000 bpd drop in oil demand this year, followed by a 660,000 bpd decline next year.
On Friday, the consulting firm Cambridge Energy Research Associates (CERA) forecast a jump in spare capacity to 8 million bpd by 2012 from 3 million bpd this year, due to falling oil demand and new supply from oil development projects that are already in progress.
In a report prepared for delegates at the London meeting, which included representatives from 27 oil producing and consuming nations, CERA predicted a 300,000 bpd drop in oil demand this year, followed by a 660,000 bpd decline next year. As a result, crude prices next year would average $52.75 a barrel, compared with $101.22 this year, the firm projected.
© 2008 All rights reserved. Citing to ANS PRESS is necessary upon using news.
|
