From Forbes – PETRONAS: Oil should be in $75-$80 range


And I remember when we budgeted for a USD20 range. Dateline 2011-06-06:

The chief of Malaysia’s national oil company PETRONAS says global crude prices were overpriced and should ideally fall within the range of $75 to $80 a barrel.

Despite rising demand, Petronas Chief Executive Shamsul Azhar Abbas says there was no real evidence of oil shortages in the market and that current triple-digit prices appeared partly influenced by central bankers and financial speculators.

Shamsul said Monday that “given the current state of market fundamentals and cost environment, I believe prices should remain within the range of $75 to $80 per barrel.”

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This entry was posted on Saturday, June 18th, 2011 at 6:00 am and is filed under engineering. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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