CSFB sees WTI over $40 through 2009, Revised China look (Marketwatch)

CSFB sees WTI over $40 through 2009
Revised China look pushes up broker's view of oil prices

By Steve Goldstein, MarketWatch
Last Update: 5:33 AM ET March 24, 2005


LONDON (MarketWatch) -- With front-month crude-oil contracts well above $50 per barrel, Credit Suisse First Boston said Thursday it sees crude holding over $40 per barrel through 2009.

"We argued in January that the commodity cycle was not over and we forecast above-consensus oil prices at that time," CSFB said.

"Since then the macro indicators have strengthened, with more robust demand, particularly from China, and a slower build up of production capacity. We now believe that the commodity cycle will stay stronger than expected to the end of the decade," the broker said.


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http://www.marketwatch.com/news/story.asp?guid=%7bD71E4C06-4199-4E99-B09D-09C0EC179898%7d&siteid=mktw&dist=nbs

Well duhhh.

Too bad they don't go indepth about Peak Oil.

Why do they have to hide a "geological fact"?