OPEC: Oil Prices Could Hit US$200
28 January 2015 13:24 WIB
TEMPO.CO, Jakarta – The Organization of Petroleum Exporting Countries (OPEC) said oil prices could soar up to US$200 per barrel, following projections of fewer explorations. The leadership succession in Greece, bringing victory to anti-austerity party Syriza and the reemergence of conflict in Ukraine are also weighing crude prices.
OPEC's forecast has little if no effect to the negative sentiments in international oil markets. Oil prices in New York's trade fell on Monday to the lowest level in six years.
The West Texas Intermediate for March delivery dropped 44 cents to US$45.15 per barrel. In London, the Brent North Sea price for March delivery fell 63 cents to US$48.16 per barrel.
CHANNEL NEWS ASIA| REUTERS