Will oil prices keep falling?

Oil has fallen below $50/barrel. Will it fall further to $40/barrel? Or will it rise again to $75/barrel? Both scenarios are possible. Indeed, both price levels could be reached in the coming year, given the way oil prices see-saw violently.

One thing is clear: the notion that global oil production has peaked and will now fall

Some experts have long been bearish on oil. Daniel Yergin of Cambridge Energy Research Associates estimates that world production of oil will rise to 110 million barrels/day by 2015, against today