Some oil executives worry prices may fall

NEW YORK Hold on to your gas guzzlers: Cheap oil may once again be just around the corner. Even as consumers worry about high gasoline prices and rising heating bills, oil executives in London, Texas and Saudi Arabia seem to be concerned about a prospect of falling oil prices.

“The big issue is what demand is going to be next year,” David O’Reilly, the chief executive of Chevron, said by telephone. “High prices tend to attract higher production and higher supplies. The question then is, What will happen to the demand side? The fact is, we rarely know what is going to happen.”

IHT