Diverse Oil Price Predictions from Russia
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Wednesday, 18 June 2008 |
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While Gazprom predicts us$250 a barrel, Lukoil believes the price of oil will return to us$120.
A spokesman for Russia's largest oil company,
LUKoil, said this week in Moscow oil prices should settle back to around
$120 to $130 per barrel.
Crude approached $140 per barrel on Monday before settling back to
around $134 by market close. The price per barrel in April averaged
about $105. "I believe the prices will level off at $120 to $130 per barrel," LUKoil economic officer Sergei Kukura said.
In contrast, the Russian energy giant Gazprom predicted oil prices would
reach $250 per barrel. Kukura said the forecast was still within
reason,but presumably this was longer term forecast while Lukoil is talking about the short term.
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