Russia: Oil to Stay at $130 a barrel?


I hope that Oil price stays at only $120 to $130 a barrel, but I do not think that it will I think that the price will get to the $200 a barrel by the end of the year…..
MOSCOW, June 17 (RIA Novosti) – Oil prices may level out at $120-130 per barrel, a spokesman for Russia’s largest private crude producer LUKoil said on Tuesday.

World crude prices reached almost $140 per barrel on Monday, rising from an average of $90.64 in February, $99.03 in March and $105.16 in April.

“I believe the prices will level off at $120-130 per barrel,” Sergei Kukura, LUKoil’s first vice president, said on the sidelines of an investor conference in Moscow.

He said he did not rule out that the prices could eventually reach $250 per barrel, referring to forecasts by analysts.

“We consider $130 per barrel to be a fair price,” the official added

Lets hope I am wrong! What do you think?

Kyle & Svet

comments always welcome.