According to a Reuters poll of ten top oil-tracking analysts and organizations, oil demand is predicted to rise by 1.3 million barrels per day (bpd) next year to 85.9 million bpd.
The expected demand increase in 2010 will be the first year to show average growth since 2007, before record prices and the economic crisis slashed consumption.
Attractive Return but Please Stay Out from Oil Market
The NYMEX is now trading above the 200d moving average now and I do see higher high formation. This confirm the upward trend of the crude oil price. The reuters report definitely suggest a continue upward movement is highly probable if the demand outpace the supply in 2010.
It may look to be an attractive investment to buy or long on crude oil now. However, I would not want to participate in the oil trading neither I like to encourage oil trading because oil price can result in many major impact to inflation and this can result in many more people suffering due to increase in the cost of living. I would like to encourage everyone to stay away from trading or speculation in the oil market that this is not the right thing to do for mankind.
World Oil Supply & Demand 2010
DISCLAIMER: This information is used for learning purposes only. It does not constitute an offer or solicitation to buy or sell. You should do your own analysis on top of my postings.
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