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Global crude oil price expected to fall to US$54-65/barrel this week

By k on August 17, 2009

Global crude oil price expected to fall to US$54-65/barrel this week thumbnail

BANGKOK, 16 August 2009 (NNT) – Energy expert Manoon Siriwan forecasted the global crude oil price to shrink to 54-65 US dollars per barrel this week if there was no good news to stimulate the price, adding that the US Dollar currency should be under close watch.

Mr Manoon stated that the declining crude oil price at present was resulted from speculation after the Consumer Confidence Index (CCI) in the US had not yet rebounded as expected. Earlier, analysts believed that the rising crude oil price to as high as 70 US dollars per barrel was not resulted from the real fundamental factors.

As for the tendency of the domestic oil retail price this week, the expert deemed that the price could fall if the global crude oil price declined continuously since at present the operating cost of oil entrepreneurs was at 1.4-1.5 baht per liter.

Related posts:

  1. Oil price to stand at 76 USD per barrel this week BANGKOK, 23 November 2009 (NNT) – The price of...
  2. Govt to reduce oil excise taxes if global price hits US$ 70-80/barrel BANGKOK, 31 July 2009 (NNT) – Oil excise taxes...
  3. Diesel price not to exceed 30 THB/liter BANGKOK, 9 January 2010 (NNT) – Energy Minister MD Wannarat...
  4. Energy expert says cuts to Oil Fund too soon BANGKOK, 8 August 2009 (NNT) - An energy expert has...
  5. Gold price expected to fall below 20,000 THB/baht weight BANGKOK, 22 February 2010 (NNT) – The domestic gold price...

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