Crude oil to stay in $45-60 band

Crude oil prices are likely to remain between $45 and $60 a barrel in 2009 as recessionary trends across the world have reduced demand, five analysts tracking the sector said.

Oil prices declined 27 per cent in the last week, its biggest weekly decline since the Gulf War 17 years ago. This was despite the Organization of Petroleum Exporting Countries (Opec), the supplier of 40 per cent of the world
BusinessStandard