Oil prices to remain around USD 50 per barrel till mid 2007 — report

A specialized oil report expected that oil prices would remain at the vicinity of USD 50 per barrel until mid 2007 due to adequate oil supplies and new oil strategies of many countries.

A report issued by the IHS, a leading global provider of critical technical information, said that despite an expected 3.2 percent annual growth in demand for oil in Asia and the Pacific until year 2010, current averages would not be affected, as a result of the regional oil surplus, and particularly surplus in medium condensates.
KUNA