Oil price of $70-80/bbl expected in 2010
Oil prices are expected to remain between $70 and $80 per barrel (bbl) this year, according to a consensus of industry experts speaking at the IP Week conference in London.
"Oil prices will remain and be sustainable between $70–80/bbl this year," says Khireswar Bora, chief operating officer at oil producing company Mansarovar Energy Colombia, a joint venture between ONGC Videsh, a unit of India's state-owned Oil & Natural Gas Corp. "This is sustainable from both sides for importers and exporters. If the price goes down too much, oil cannot be produced and so we have to keep this balance."
John Hall, chairman of energy management firm Energyquote, agrees. "Oil
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