Monday, June 12, 2006

BP CEO predicts $25 oil

Lord Browne, the chief executive of energy giant BP, has predicted that the price of oil could drop as low as $25 a barrel, in direct contrast to a market that sees prices remaining sky-high...

"We cannot really count on oil prices easing very much in the near future," Lord Browne said. "But is very likely that oil prices will range in the medium term around an average of $40. In the long run it could even be $25 to $30."...

Wouldn't expect that from a CEO of a oil titan

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