The World Economy
Oil prices could shoot beyond 2008 peak by 2012: Saudi ArabiaLast Updated: Tuesday, May 26, 2009 2:02 PM ET CBC News
Oil prices could soar above previous records within "the next two or three years" because of a lack of exploration capacity now, said the Saudi oil minister in Rome on Tuesday.
Saudi Arabia's Minister of Petroleum and Mineral Resources Ali al-Naimi said current low prices are discouraging the search for new oil in the ongoing recession. Energy prices, however, can jump quickly with the greater demand associated with an economic recovery, he said. (read more at)
Oil prices could soar above previous records within "the next two or three years" because of a lack of exploration capacity now, said the Saudi oil minister in Rome on Tuesday.
Saudi Arabia's Minister of Petroleum and Mineral Resources Ali al-Naimi said current low prices are discouraging the search for new oil in the ongoing recession. Energy prices, however, can jump quickly with the greater demand associated with an economic recovery, he said. (read more at)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/images/sp_en_6.gif)
![[Most Recent Exchange Rate from www.kitco.com]](http://www.weblinks247.com/exrate/24hr-jpy-small.gif)
![[Most Recent Exchange Rate from www.kitco.com]](http://www.weblinks247.com/exrate/24hr-gbp-small.gif)
No comments:
Post a Comment