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Commerzbank Analyst Sees Oil Falling Below $60 in 2010

Can one forward a strong argument for a downtrend in oil's price in 2010?

Commerzbank AG Senior Analyst Eugen Weinberg attempts do just that -- predicting that oil will fall to $59 per barrel in Q4 2010, due to OPEC production increases.

"Next year, I see risk from the downside," Weinberg told Bloomberg News Monday. "OPEC discipline is receding, and I think this will continue." He added that until there's evidence of production discipline from OPEC, prices have increased prematurely, according to his analysis.

Continue reading Commerzbank Analyst Sees Oil Falling Below $60 in 2010

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Last updated: May 26, 2012: 08:15 PM

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