Total CEO Patrick Pouyanne said in an interview with Bloomberg TV that a possible rise in the price of oil to $100 per barrel was not good news, for the oil industry as well. Oil is becoming more expensive due to the expected significant reduction in supplies from Iran due to US sanctions. The dynamics of oil prices are also affected by interruptions in the supply of oil from Venezuela. The growth of oil prices to too high levels negatively affects the economy of developing countries and the world economy as a whole. In addition, competition is growing - engines that work on alternative fuels start to be in high demand. Pouyanne expects oil prices to rise to $100 in June 2019.
Gold prices gain amid strengthened Dollar, stalled U.S. stimulus talks12.10.2020
Oil falls on second session as U.S. Gulf reopens production12.10.2020
Japan’s wholesale prices decline in September, posing deflation risk09.10.2020
Oil prices slide after week-long gains amid Norwegian strike