Economist and energy analyst Ken Medlock at Rice University's Beck Baker Institute believes that is unlikely. He says price has prices have been going up in part because market traders are overreacting to any sign of increased increasing demand.

" The International Energy Agency last week issued a report that they projected 2009 demand to be down by 2. 47-million barrels a day, rather than 2. 56. The oil market rally buy rallied by something on the order to dollars of $2 when that news had hit the wires. "

Medlock says much of the price rise has been caused by the U. S. dollar dollar's slide in value. Cooled Crude oil prices on the world market are setting set in dollars. Medlock says the fundamental things fundamentals in the market do not justify much more of the an increase in oil prices.