World Oil Prices To Stay High Through 2007: US EIA

World crude oil prices are expected to stay high through 2007 because of strong petroleum demand, limited surplus oil production and refining capacity and concerns about supply disruptions due to geopolitical risks in countries like Iran, the U.S. Energy Information Administration said Wednesday.

The EIA said none of these “forces that contribute to current high crude oil prices will ease significantly in the near future, so our best forecast is that crude oil prices will remain elevated through 2007.”
Reuters