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Average Cost of Oil 2011

The average cost of oil in 2011 is $90 per barrel. The prices of oil are expected to vary owing to several factors, including its grade. Initial indications of future bull markets in 2011 mean that prices should continue to rise, crossing the $100-mark very soon. The costs may also be influenced by the current value of economic indicators such as inflation and GDP growth. The oil prices are seen running unaffected by the economy, which is still recuperating from the recession. Oil markets predict more gains for oil prices in the weeks ahead even as the 12 OPEC nations have decided to increase their production rate.

by Margaret Walker on Wed, 01/12/2011 - 03:09

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