Peak Oil: Are Oil Prices Destined to Rise Again?

Crude oil futures continued down on Friday, spooked by the dim outlook for the U.S. economy. That


Falling oil prices are only going to accelerate that trend, analysts warn, at a time when OPEC is accelerating output cuts and production declines at oil fields around the world is apparently increasing.

Big oil as a whole needs oil prices of about $82 a barrel next year to fund their plans for new investment in oil exploration and production, Credit Suisse says in a new report. Right now, the consensus forecast of about $75 oil means overall, oil companies will suspend some marginal projects, as Shell has already announced with Canadian tar sands.

Wall St. Journal