IHS Chemical Week

People & Business :: Energy and Feedstocks


2:40 PM MST | January 12, 2009 | REBECCA COONS

Energy Prices Set for Modest Rebound Crude oil prices will likely bounce back from their current steep lows, but they are likely to remain well below that of the first half of 2008, Purvin & Gertz (Houston) says. OPEC says it will drop production by 2.2 million bbl/day, in response to the plummeting crude oil prices. The production cut was larger than expected, but prices still fell in the wake of the announcement, says Ron Gist, consultant at Purvin & Gertz. “The economic outlook is weighing heavier on people’s minds right now. If OPEC...

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