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Saturday, December 13, 2014

Is Oil Price near bottom?

While the bearish market continue in the market as oil price plunge continue, some analysts are starting to believe the bottom is near. 

It is hard to predict where the bottom is but some forecasters believe the long tumble of crude oil is about to come to an end. 

The average forecast in the latest survey believe that the crude oil to trade at US$64 a barrel at the end of December 2014.

With the crude oil (brent) at US$61.85 per barrel now, some analyst believe the sharp drop is coming to an end.

It is difficult to do a forecast but it is likely for us to see the oil price to trend at this level for the coming weeks.

What say you? Did the analysts get it right this time?  

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