CNOOC Chief Economist Predicts $90 Oil

Oil will peak at $90 per barrel by March of next year, CNOOC Dep. Chief Economist Zhang Weiping said at conference discussing China’s energy needs in Beijing on Monday. Zhang also expected global oil production to peak at 94-100 mb/day during the next five years.

“High oil prices will have adverse affects on China’s economy,” said Zhang.
Resource Investor