OEF Rapid Review Articles
Crude could return to $100 a barrel because the two-year market downturn has curbed investment, according to Lukas Lundin, a member of Lundin Petroleum AB’s board and chairman of Lundin Mining Corp, reported World Oil, “I think between $50 and $80 is probably better for our business,” Lundin said in an interview. “It keeps it more stable and all the good projects would work.” Except during the financial crisis in 2008, added the magazine, average Brent prices increased every year from 2002 to 2012, and topped $100 a barrel from 2011 to 2014. That persuaded companies to embark on higher-costs projects, building capacity that outstripped demand and led eventually to a collapse in prices. Lundin expects prices to be $60 to $70 a barrel in the next nine months.
LINK TO THE SOURCE ARTICLE:
Oil At $50 To $80 Better Than At $100
LINK TO THE SOURCE ARTICLE:
Oil At $50 To $80 Better Than At $100