Oil price to fall, says KPMG
Middle East: Saturday, May 10 - 2008 at 09:45
A survey by KPMG among 372 petroleum industry executives showed 55% saying, they think the price of a barrel of crude will drop below $100 by the end of the year, reported AP. About 44% of those surveyed companies are also planning to invest more in oil exploration. Oil price has hit more than $124 a barrel this week. Meanwhile, Goldman Sachs claim oil prices would go up to $150 to $200 within two years.
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Medilyn Manibo, Assistant News EditorSaturday, May 10 - 2008 at 09:45 UAE local time (GMT+4)
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