Oil Price To Double Soon:
Experts
Posted: 22 September 2004
Venezuela ’s president Hugo Chaves stated Sunday he would predict that oil price may reach the fantastic level of $100 per barrel. It looks incredibly, but last year’s forecasts that crude barrel will cost $40, while oil cost $27 per barrel at NYMEX, looked queer either, however it has happened this May.
Italian newspaper La Stampa wrote that one of the leading European banks, Germany ’s Deutsche Bank experts stated that oil prices may achieve the level of $100 per barrel, if some incident like a catastrophe or terrorist attack leads to crude oil supply cuts.
“OPEC is working now in 95 per cent of its full capacity, and now the loss of 1 or 2 million barrels per day may theoretically double the current price,” Deutsche Bank’s strategist Adam Siminsky said in the interview to Bloomberg.
Posted by Editor Pipeline Magazine
Information supplied by companies
or PR agencies who are responsible for content. Send press releases
to info@pipelinedubai.com |
