Analysts Doubt Gazprom’s $250 Claim

RUSSIAN gas and oil monopoly Gazprom yesterday claimed it was inevitable oil prices would rise to $250 a barrel next year.

But analysts in SA said there were already signs of the price softening in response to waning demand as consumers respond to spiralling fuel costs. They said the economy, already buffeted by a host of negative factors, would not sustain such a high price.

“We certainly do expect such an increase, which should come as no surprise,” said Sergey Kupriyanov, speaking on behalf of Gazprom CE Alexei Miller.

AllAfrica