Forecast: Oil Prices Lower Through 2005

By John S. McClenahen If Global Insight, an economic forecasting firm based in Waltham, Mass., is correct, oil prices are as high now as they will be for the next couple of years. The firm figures that the price of West Texas Intermediate will run $30.00 a barrel through the end of September. Then the quarterly price will move lower, staying below $30.00 a barrel through the end of 2005. The firm foresees the price falling to $26.25 per barrel in the first two calendar quarters of next year before rising to $28.38 per barrel in the fourth quarter of 2005.

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