Thursday, November 17, 2011

Crude oil could hit $150 near term says IEA

Oil prices could reach $150 a barrel in the near term if investment in the Middle East and North Africa (MENA) oil-producing region falls significantly, the International Energy Agency (IEA) said.

If between 2011 and 2015 investment in the MENA region runs one-third lower than the $100 billion per year required, consumers could face a near-term rise in the oil price to $150 per barrel
Copyright 2011 Al Hilal Publishing & Marketing Group

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Source: http://www.albawaba.com/crude-could-hit-150-near-term-says-iea-400893

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