Experts Predict Low Oil Prices Through Next Year

"OPEC's decision not to cut production continues to reverberate through global oil markets, with the price of Europe's benchmark Brent crude falling to a four-year low today — bad news for petroleum exporters in the Middle East and Russia, but good news for nearly everyone else."

"Brent crude oil steadied at about $73 a barrel on Friday after reaching a low of $71.12, its lowest level since July 2010, according to Reuters."

"Igor Sechin, the head of Russia's Rosneft, says he thinks oil prices will average $70-75 per barrel through 2015. That prediction was in line with what Bill Hubard, chief economist at Markets.com, told Reuters: 'I think $70 a barrel will be the new norm. We could see oil go considerably lower.'"