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Mohamed A. El-Erian

Where Oil Prices Go From Here

There will be no quick return to the $100 a barrel.
Inching higher.

Inching higher.

Photographer: Justin Sullivan/Getty Images

Last summer, after an unusually long period of relative stability, oil prices embarked on a downward journey, decreasing by half in just six months.

In the last few weeks, however, the market has worked on establishing a floor, enabling prices to regain some of the lost ground. Even so, they are unlikely to return to $100 a barrel soon, and the consequences of the plunge have yet to play out fully.