US Oil Prices Could Sink to $50

on December 12, 2012 at 2:40 PM

US oil prices could sink to $50 a barrel at some point over the next two years, according to analysts at Bank of America Merrill Lynch.
But don’t expect a corresponding drop in gas prices.

Merrill analysts expect US oil prices to still average about $90 a barrel over the same time period. Global oil prices meanwhile, which more closely dictate the price of gasoline in the United States, are expected to remain high as growth in global oil supplies lags population growth and economic output.