| Global oil markets could see an increased risk of another major jolt if prices continue to remain at current levels, Tom Albanese, the chief executive of Vedanta Resources told CNBC Tuesday. Recent reports show that discoveries of new oil reserves have dropped to their lowest level for more than 60 years.
The chief of one of the world's largest diversified natural resources companies implied that this could potentially cause supply shortages. "People are saying there's no such thing as $100 oil coming again but the longer the prices stay low for this period of time you could see increased risk of a price shock coming in the future," Albanese said..............................................Full Article: Source
|