The world is near the top of the possible expansion of oil productions. There are not technologically chances for further increase of oil production in near-term. Also most of the oil stores are in difficult areas to produce, as is necessary time and high investments to supply. The Crude Oil almost touches $120 for barrel today and continue with the new records day after day. The forecast of World-Signals.com earlier this year for levels of $120 in April 2008 happen. We are forecasting the crude oil to trade at $120 in April in our earlier forecast: http://www.world-signals.com/forexnews/display-item.php?newsid=26
The new forecast is continuing of the raises of oil prices in whole 2008. We can see levels of $150 for barrel in September 2008 while at the end of 2008 the forecast of World-Signals.com is levels up to $160-$180. There are not chances for production expansion and also OPEC would not raise the production said Scott Brown energy expert in World-Signals.com. At the same time the consummation of oil expanded continues. China and India will continue to expand the consummation while at the same time the terrorists will continue to attack the pipelines. While at the same time at any recovery of the oil there are many traders ready to buy oil.