CERA: $70 Crude In ‘07 Would Cut Global Economic Growth

Current crude oil prices in the $70 to $75 range reflect supply disruptions totaling some 2 million barrels a day, analysts at Cambridge Energy Research Associates said Monday.

Despite the current high prices, CERA expects world oil demand to grow by 1.7 million barrels a day, or 2.1%, this year, but cautioned that similar prices next year would cut into expectations of similar demand growth rates in 2007.
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