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Where oil prices will be in June 2012?
Wars and revolutions across the Middle East and North Africa and the Japanese earthquake and tsunami have sent oil and gas prices soaring with economists worrying over the impact of escalating energy costs on global growth. Last week, for the first time in a decade, the Organization of Petroleum Exporting Countries failed to reach an agreement to boost the output as Saudi Arabia did not convince the others that world’s economy will need more fuel.
From June 13 to June 15, Reuters Global Energy and Climate Summit 2011 will feature more than 60 global decision-makers in the energy and climate businesses to discuss the challenges facing the 21st century. This is your chance to give us your forecast on whether oil prices are more likely to got back to their peak of $147 per barrel hit on 2008, or below the current range of around $120.