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Q.

Will the rebound of US economy push up the price of crude oil? If so up to what level?

Asked by Good Citizen, 06 Apr '10 10:16 am
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Answers (3)

1.

Yes the crude oil is on the way up & we might see newer highs on its prices . Soon, it would cross $ 100 to a barrel & chances are of crossing the previous highs of $ 150 to a barrel too!!
Answered by dharamender nebhnani, 06 Apr '10 09:29 pm

 
  
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2.

US is in total control of middle east oil market. The prices are directly linked with the US economy, US currency is gaining its lost pride. Earlier the crude Oil prices were mostly decided by OPEC now OPEC's ability to control the price of oil has diminished somewhat since then, due to the subsequent discovery and development of large oil reserves in Alaska, the North Sea, Canada, the Gulf of Mexico, the opening up of Russia, and market modernization.

USA has its say in Gulf region and from outside controls the crude oil prices by creating fictitious demand or supply, lets wait and watch how US reacts this time and policy it adopts towards OIL IMPORTS from ME.
Answered by Mohammed asim nehal, 06 Apr '10 01:12 pm

 
  
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3.

The answer is Yes and oil price rises above $85 as US jobs market improves. The prices may steadily increase over a period of time unlike last time. It may reach $100 per barrel or so. There is a catch. Even though the U.S. economy is picking up, its oil import would not increase very much since it has already stock piled enough oil reserves. Moreover, U.S. President has given go ahead for new off shore oil exploration and U.S. has been aggressively trying to reduce its dependence on oil imports from the Middle East. Hence, we can expect only a modest oil price increase which would be beneficial for both oil exporters as well as importers.
Answered by Tony Fernandez, 06 Apr '10 12:06 pm

 
  
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