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Oil not to top $100 by year-end, experts say
RBC, 02.11.2007, Moscow 17:38:14.The price of oil is not likely to reach $100 per barrel by the end of 2007, Gennady Shmal, the head of the Russian union of oil and gas industrialists, told journalists today. Though he did not rule out that fluctuations would continue until the end of the year, in his opinion, the price of crude oil would probably exceed $90 only slightly. At the same time, the uptrend is expected to persist for a number of objective reasons, such as the appreciation of production costs, increasing demand for hydrocarbons in Asia Pacific, as well as speculative trends on global oil markets amid a weaker dollar.
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