2010 Trends: #4 – Cheaper Oil

After the OPEC crisis of the 1970s, oil prices fell dramatically in subsequent years, after the recent peak of $150/barrel and oil now hovering around $70/barrel increasing supply, substitution to cheaper forms of energy and reduced demand against a backdrop of relatively weak global growth are all likely to lead to a reversal in oil prices. The fact that no one really expects this makes it more probable.

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