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Watching Government: EIA forecast mentions rebound

11/16/2009
By Nick Snow
Economists are generally hesitant about using "r" words. Many waited a year ago before admitting that the world had entered a recession. They're equally cautious now about any possible rebound.The US Energy Information Administration nevertheless raised by $7/bbl its forecast price of West Texas Intermediate crude in its latest short-term energy outlook because it believes sustained economic growth in China and elsewhere in Asia may lead to a rebound in demand.WTI prices should average $77/bbl in the October-March period and reach $81/bbl by December 2010 if US and world economic conditions keep improving, particularly in Asia where growth has been stronger than expected, EIA sa...
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