Monday, September 27, 2010
Here we go again…….
While a renewed downturn would cause demand for oil to fall, the bank said this would be outweighed by the effect of low interest rates on the oil price. "The second round of quantitative easing that our economists expect in the first quarter of next year ... should help reflate oil prices even if US demand stays weak," it said. "We thus keep our 2011 crude forecasts of $85 a barrel intact."