We continue to believe that fundamentals of supply and demand will be in play, bringing oil prices down to approximately 35 per barrel by the end of this year, and to 25-30 per barrel in 2005.
More Quotes from Prabhas Panigrahi:
We do believe there will be some kind of production increase because OPEC doesn't want to kill the goose that lays the golden egg, which is world economic growth. But we don't see prices dipping below 35 per barrel this year.Prabhas Panigrahi
Business of 15 billion to 20 billion in the next three-to-four years is not an unreasonable number to expect at all, depending on how aggressively the new Iraqi government wants to exploit its oil resources.
Prabhas Panigrahi
A lot of exploration and production firms are coming to realize that maybe 30-plus oil is for real, so growth will likely follow.
Prabhas Panigrahi
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