I don't think it will, because
From $147/barrel in July 2008 from $50/barrel in Jan 2007
The recent recovery of the dollar contributed to this dip.
Speculators unwinding their futures position in the wake of the improvement witnessed in the market balance.
Thanks to the financial turmoil and consequent economic slowdown, the US has witnessed its first ever decline in oil demand in 26 years.
Lack of adequate supply growth, particularly from non-OPEC sources is the main culprit.
