Oil should stay at more than 64 dollars in 2007

Persistent global demand and stubborn geopolitical tensions will keep the average price of oil at more than 64 dollars a barrel in 2007, according to a Reuters survey of 32 analysts.

The latest revisions place consensus at 64,62 dollars for US light crude in 2007. The consensus soared nearly two dollars in two months.

Concerns over Iran's nuclear program, violence in Nigeria and Iraq, and disruptions in US production largely explain the 11% rise in prices since the end of last year.

But prices have fallen 8% in two weeks and are now $ 11 below their mid-July highs, due to increased inventories and a hitherto safe hurricane season. The US light crude futures traded at just over $ 67 a barrel on Friday.

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