Crude oil prices are expected to remain stable in 2010 after two years of market fluctuations brought on by the global economic downturn. Barrel prices are expected to remain around the $80 mark, according to the global consultancy firm Control Risks, which accurately predicted oil prices in 2009. “We called the price at $70 for 2009, which people said was crazy at the time, but which turned out to be pretty much on tap,” said Jonathan Wood, global issues analyst at Control Risks. According to Wood, the upper and lower limits for crude prices over the course of the year will be $100 and $60, respectively, but predicted that this would be improbable. Echoing this sentiment, last month the International Energy Agency (IEA) also announced that it sees demand for oil increasing by 1.4 million barrels per day in 2010, spurred by demand in China and other parts of Asia.
