Oil price to fall to below $53 by 2008: World Bank
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High global oil prices are likely to ease to $56 a barrel in 2007 and fall further to just below $53 in 2008 as supplies increase and demand growth eases, the World Bank said on Wednesday.
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Oil eased below $70 a barrel on Friday   on expectations of a long delay before the United Nations   decides on sanctions against Iran, the world's fourth-largest   oil exporter.
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Oil prices slid below $61 a barrel on   Wednesday on rising winter fuel stocks and waning concern about   Iran, but Saudi Arabia, the world's largest exporter, signaled   the market may have fallen enough.
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Oil prices fell below $87 a barrel on Wednesday as stock markets declined further, shrugging off a temporary reprieve from Tuesday's steep cut in U.S. interest rates amid persistent fears of a global economic slowdown.
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Oil may cost as much as 10 percent less next year if US Democratic challenger Senator John Kerry defeats President Bush in Tuesday&#39;s election, some energy analysts said on Monday.
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Oil prices fell Monday, nearing a  7-week low just under $47 a barrel, as growing fuel stocks in  the United States eased fears of a winter supply crunch despite  a cold snap in North America at the weekend.
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Global oil prices are set to cool although not rapidly and not to levels seen in the 1990s, the Organisation for Economic Cooperation and Development (OECD) says.
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Oil prices fell to a new six-month low   below $60 a barrel on Monday as news of BP restoring output at   Prudhoe Bay added to a sense of healthy global supplies.
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JAKARTA  - Worldwide demand for oil is expected to drop by about one million barrels per day by the second quarter of 2005 after the northern hemisphere&#39;s winter season ends, OPEC&#39;s president said.
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New York - Oil prices continued to plummet on Thursday, falling almost five per cent to hit a 12-week low. On the New York Mercantile Exchange, the January contract for light sweet crude was down $2.24 US
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The head of the Organization of Petroleum Exporting Countries forecast on Monday global crude prices would soon fall, partly because of expected supply increases from Iraq.
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Global oil prices are likely to   continue volatile as supplies remain tight, the International   Monetary Fund's chief economist said on Thursday.
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Oil prices fall to a six-month low below $61 a barrel as the reduced tension over Iran calms markets.
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World oil prices plummeted to a near three-month low on Thursday, capping a two-day, 12-percent plunge as fear of a global energy supply crunch evaporated.
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A fifth year of powerful economic growth in East Asia and the Pacific has driven the number of people living in poverty in the region to its lowest level ever, but the World Bank warned Tuesday that oil prices could dampen the boom next year.
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Oil costing roughly $53 a barrel is a major drag on the US economy, and Arab finance ministers have told the Bush administration they are committed to bringing the price down, Treasury Secretary John Snow said Sunday.
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Oil fell below $88 a barrel on Wednesday  as stock markets declined further, shrugging off a temporary  reprieve from Tuesday's steep cut in U.S. interest rates amid  persistent fears of a global economic slowdown.