Oil and gas veteran's take on oil prices


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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