Day Dreaming on Oil Price

Day Dreaming on Oil Price ISG OIL price hay been under downward pressure from early 1980, though for some time in between, in the early phase of the Iran-Iraq war, there was ;i firming up, Lately, however, there has been increasing talk of the oil price reverting to the nominal level that obtained in mid-year, 1979, i e, at mound $ 25-6 a barrel of marker crude. Is this purely wishful thinking? Or could there be a genuine possibility of the oil price declining in the near future? An answer is important, because depending" on it, one can form one's judgment on the shape of a country's balance or payments and its investment programme, both overall as well as that concerning specifically the energy sector. However, the answer is not so easily forthcoming.