Consumption reform only way to curb oil price

Amid the current climate of supply-side oil disruptions, Taqa Chief Executive Peter Barker-Homek said the price of fuel could reach $150 this year, with oil consumption showing no sign of slowing down.

As demand for oil increases by more than half in 2015, the current commodity price pinch is set to continue for at least another two years as the world adapts to new forms of energy efficiency, he said.


Changing the world’s consumption habits and not waiting for oil prices to fall is the solution to the current food price crisis, said Barker-Homek.

Emirates Business 24-7