“Merrill Lynch” expect oil to fall to 25 $ a barrel

U.S. investment bank Merrill Lynch Said that is likely to continue to decline in oil prices during the short period next year and it could reach $ 25 a barrel before rebounding,

The bank said in a research note that oil prices were expected to begin recovery in the second half of 2009,
And reducing the Merrill Lynch forecasting an average price of crude futures American and North Sea Brent crude to $ 50 a barrel from the previous estimate of 90$ for both cruds.

 
The bank said in its note “with the decline in demand across the main areas of oil consumption, prices of raw materials all the key measurement of oil continues to decline in the short term, the interest in the market will focus on responses and perhaps also OPEC producers outside OPEC to balance the market.