Economy
BMI Global Assumptions: Oil
October 2006 | Market StrategyBMI View Our core view is for oil to ease from this year's average forecast of US$65.00/bbl - which should be fairly close to the mark - to an average price in 2007 of US$58.00/bbl, due to a slower US and marginally slower global economy. That said, there are clear risks to our view. On the downside, a severe downturn in the US housing market. On the upside, a rise in geopolitical tensions surrounding Iran.
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