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Oil prices to trend lower in 2007: ABARE

A ROLLER-coaster year for oil traders will make way for a calmer 2007, in which world prices are expected to shed 15% to sink to an estimated average of $US56 a barrel, according to a new report.

Francine Pennington
Oil prices to trend lower in 2007: ABARE

In its latest commodities report, the Australian Bureau of Agricultural and Resource Economics forecasts the drop from an average of $66/bbl this calendar year is due in part to global oil production rising...

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