Oil May Fall as Libya Moves to Resume Output, Survey Shows
This article is for subscribers only.
Oil may fall next week as Libyan rebels consolidate their hold on the country after deposing leader Muammar Qaddafi and begin taking steps to restore crude exports, a Bloomberg News survey showed.
Seventeen of 34 analysts, or 50 percent, forecast oil will decline through Sept. 2. Nine respondents, or 26 percent, predicted prices will increase and eight estimated there will be little change during the period. Last week 42 percent of surveyed analysts projected a decline.