24.11.2015 - How low can oil prices go? Here's what the industry thinks
Venezuelan oil minister Eulogio del Pino yesterday warned that the Organisation of the Petroleum Exporting Countries (Opec) cannot allow an oil price war, and urged it to take action to stabilise the crude market soon. In response to the question of how low oil prices could go next year if Opec fails to take action, del Pino said "mid-20s". With the future direction of oil prices notoriously difficult to predict, how does del Pino's forecast fit in with those of other industry insiders? Opec's official forecasts see oil prices rising by no more than $5 a barrel a year to reach $80 by 2020, nevertheless there's a range of views about the future direction of oil prices within the 12-strong oil cartel...............................................Full Article: Source
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