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December 14, 2012

Merrill Lynch: Oil Could Sink to $50 a Barrell

Steve Hargreaves, CNN


CNN MOney

Merrill analysts expect U.S. 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.

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TAGGED: Cushing Oklahoma, Eagle Ford Shale, Bakken Shale, oil supplies, oil prices

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