Open Demo Account
Home / Market Update / Total CEO Expects $50-60 Per Barrel of Oil
US Oil (
US US Oil

Total CEO Expects $50-60 Per Barrel of Oil

Adel 25 February, 2021 1:13 pm Market Update

The CEO of Total said that the global economic recovery from the Coronavirus pandemic may take two years, ruling out that oil prices will remain at their current high level of $70 a barrel.

Patrick Boyan told local media, “I am not betting that prices remain at $70 a barrel. I see the correct price at around 50 or 60 dollars a barrel.”

It is noteworthy that Brent crude futures rose to exceed $70 a barrel today for the first time since the outbreak of the Covid-19 pandemic, while US crude touched its peak in more than two years, following reports of attacks on Saudi oil facilities.

Tags

Check Also

Fed Rate Cuts Fade as Inflation Pressures Persist Amid Global Conflicts

Hopes for a new round of U.S. interest rate cuts are rapidly fading as inflation …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends