Merrill Says Oil May Fall Below $25 Next Year Amid Global Recession

Merrill Says Oil May Fall Below $25 Next Year Amid Global Recession

If economist David H. Wang had predicted earlier this year that oil would fall to $40 per barrel in 2009, "I would have lost my reputation as an economist in standing," he said.

Or, "they would have probably said I was in need of 24-hour observation," he added.

Well, $40-per-barrel oil in 2009 doesn't appear to be that outlandish now. In fact, in the view of one research operation, it looks downright high.

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