In fact, the Paris-based International Energy Agency (IEA) – energy
advisor to 28 industrialized nations – says oil will rise to $100 a
barrel by 2015, as a result of a major “supply crunch,” and will
ultimately soar to $200 a barrel.

But before it does, prices are likely to sink even further, perhaps
falling as low as $20 a barrel in the first quarter of the New Year.

Indeed, much of Wall Street expects oil prices to average about $50 a
barrel in 2009. Some of the firms and their specific forecasts
include:

•Deutsche Bank AG (DB, which says oil prices will average $47.50 for
all of next year.
•Merrill Lynch & Co. Inc. (MER), which predicts that prices will
average $50 even.
•Moody’s Investors Service (MCO) also says crude will average $50 a
barrel in 2009, but says that average will increase to $55 a barrel
for 2010.
•Goldman Sachs Group Inc. (GS) is slightly more bearish, predicting
that prices will average $45 for all of next year – after falling as
low as $30 in the 2009 first quarter. (It’s worth noting that Goldman
– just five months ago – predicted oil prices would hit $200 a barrel
in 2009.