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More oil project delays to return price to $110 – Rosneft CEO
Monday, February 16, 2015 7:10
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The key market indicators show the oil prices could soon rebound to about $80 a barrel, Rosneft CEO Igor Sechin said, adding that the price may even bounce back to $110 a barrel if more projects are shelved.
“Look at the market fundamentals and it seems prices should soon rebound to the $60 or $80 a barrel levels that would make it worth building the wells that the world needs,” Sechin wrote in an article for the FT.
However, if markets are distorted, and the recovery takes longer than expected, many projects will be scrapped, and with demand returning, the price could rise to $90-110 a barrel or even higher …. http://rt.com/business
Source: http://luismmx.blogspot.com/2015/02/more-oil-project-delays-to-return-price.html
