Simmons expects oil to hit 250 dlrs pb

The former energy advisor of US President George W Bush, Matthew Simmons, predicts oil prices could reach as much as 250 US dollars per barrel over the coming years.

“We have to expect an oil price between 200 and 250 dollars per barrel,” Simmons was quoted as saying on Tuesday in the January issue of the German-based Capital economic magazine.

IRNA

In the original story in German (Capital) Simmons is quoted as saying, that never since WW II have there been so few oil field discoveries as in 2005.
More from this interview tomorrow, as it seems.