Oil Prices Will Stay High in ‘05, ‘06

Even with high oil prices starting to slow demand, lagging new oil output and the Organization of Petroleum Exporting Countries’ new $50-a-barrel price target will keep prices high this year and next, the Center for Global Energy Studies said Monday.

“There is little prospect of oil prices falling far either this year or next,” CGES, a leading London-based oil consultancy said in a research note.
Schlumberger