http://www.tehrantimes.com/index_View.asp?code=196132
Oil price may hit $200 a barrel without investment: BP CEO
ST. PETERSBURG, Russia (Dow Jones)--The price of oil may hit $150 or $200 a
barrel by the middle of the next decade if oil companies don't invest enough,
Tony Hayward, chief executive of BP PLC (BP) said Friday.
"The future is not canceled" by the global economic crisis, he said. "We need
to invest for the future."
Speaking at an economic forum in St. Petersburg, Hayward said the outlook that
global demand for oil will stagnate "is not realistic."
He said while demand for oil in members of the Organization for Economic
Cooperation and Development will be flat or even down in the long run, demand
in non-OECD countries will definitely rise.
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