Oil outlook revised down

Crude oil prices will close between $81 and $90/bbl this year, according to 55% of respondents to KPMG’s annual Global Energy Institute survey.

The poll of 780 senior oil and gas executives showed 37% saw prices ending the year between $91 and $100/bbl, with 9% believing prices would top $100/bbl in 2010.

“We are hearing from our clients that commodity prices will remain volatile in the short run as the European economic and Gulf [of Mexico] oil spill situations work themselves out,” says John Ku

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