Oil price at $140 per barrel! – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News
Oil price at $140 per barrel! – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News
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THE latest forecast for the crude oil price level during the coming months is $140. The main reason behind this price level is the strong recovery of China’s economy with the anticipation that it could push its demand for oil to almost four million barrels from one million barrels last year. The announcement made by Russia to reduce its production by 500,000 barrels with immediate effect pushed the oil price to $87 a barrel in no time.
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