Oil prices at US$100/barrel not sustainable


Does this sound like a broken record?

Dateline 2012-03-30:

Petroliam Nasional Bhd, Malaysia’s state oil company, expects oil prices to decline as crude above US$100 a barrel restrains demand, according to Chief Executive Officer Shamsul Azhar Abbas.

The company estimates a fair price of oil between US$85 and US$90 a barrel for benchmark Brent crude, compared with current futures markets at about US$123 a barrel.

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This entry was posted on Thursday, April 19th, 2012 at 6:00 am and is filed under Malaysia, oil and gas. 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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