Think tank expects oil demand to crash

There are two schools of thought on oil prices. The first is that the recession will not last long and that exploration by major oil companies has slowed as oil fields begin to yield less. In this case, oil prices will move back toward $100 over the next year. Another contributing factor to rising oil will be the ongoing effort by OPEC to cut production.

The second case is that the economy is just so bad that the demand for oil will be crippled for a year or two. The price of crude could actually head back toward $30.