Gazprom Forecasts Oil at $250 (Folo) High Oil Costs Set to Curb Demand Consumers Learning to Adapt, IEA Finds
June 11, 2008
Alexei Miller, the chief executive of the Russian energy giant Gazprom, forecast a crude price of $250 a barrel in “the foreseeable future,” Reuters reported Tuesday from Deauville, France.
A crude oil price below $100 a barrel, he said, would still mean that extraction from deep wells, tar sands and shale would be profitable, and it would also encourage new investment.
Originally published by Reuters.
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