IF what former Petroliam Nasional Bhd (Petronas) president and chief executive officer Tan Sri Shamsul Azhar Abbas says is true, then the oil and gas (O&G) industry has to go through a perilous three or even four years of low price environment before it sees the heady days of hitting dizzy heights of US$100 or more per barrel.
The industry veteran expects the price of oil to trade in the range of between US$45 and US$55 per barrel in the next few years based on the current fundamentals and dynamics surrounding the industry.
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