Tight oil supplies, red-hot global demand and a weakening dollar will boost average oil prices to a record level next year, a Reuters poll showed on Wednesday.
Analysts raised their average 2008 oil price forecast for U.S. crude to $67 a barrel as many believe the current rally will continue well into next year. The forecast surpasses the record average of $66.24, reached in 2006.
What do you think about the price of oil? Is it a honestly a function of supply and demand or are prices artificially inflated by oil companies? We want to know!
Got something to say? Send us an e-mail at firstname.lastname@example.org and your comment might be posted on the Rapid Recap! Prefer to keep it between us? You can still send questions and comments to email@example.com.