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Energy Security

Oil prices will continue to rise in 2008

By Javier Blas

Published: December 3 2007 21:17 | Last updated: December 3 2007 21:17

Predicting oil prices these days seems as easy as picking the last digit of the year to obtain the first digit of the price.

Oil averaged $31.5 a barrel in 2003, $41.5 a barrel in 2004 and $56.7 a barrel in 2005. The trend continued in 2006, with $66.2 a barrel, and so far this year has averaged $72.5.

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