Where Will Oil End 2009?

Is 2009 going to be an exciting year for oil? Institutional investors don`t think so. Their estimates are very similar – much of Wall Street expects oil prices to average about $50 a barrel in 2009. Some of the firms and their specific forecasts:
Deutsche Bank predicts an average price of $47.50 for all of 2009; the chief energy economist of Deutsche Bank, Adam Sieminski, said recently that the demand for oil in 2009 will drop more than any other time in the last quarter of a century due to the weak economy. Sieminski forecasts oil traded in New York falling as low as $30 and averaging $47.50 for the whole year.

Merrill Lynch has a very similar prediction, saying that prices will average $50 (but iif they could predict anything they would have remained independent…).

Moody’s Investors Service also says crude will average $50 a barrel in 2009.

More predictions from Seeking Alpha