So I guess their 2000 budget will not increase.
11/27 11:00 Shell CEO Expects Oil to Fall to Below $20 a Barrel, Paper Says
By Christiane Buehler
Hamburg, Nov. 27 (Bloomberg) -- World oil prices will fall in the medium-term to between $15 and $20 a barrel, German paper Welt am Sonntag said, citing Royal/Dutch-Shell Chairman Mark Moody-Stuart. He expects oil prices to be above $20 a barrel in the winter, though they will eventually drop to below $20, a level that will make oil companies, OPEC and even the customers happy, the paper reported. Steward also said he does not expect any
further mega-mergers in the oil industry, as a limit of what the cartel offices will allow has already been reached, the magazine said.
World oil prices, which have doubled this year, may rise to
more than $30 a barrel in coming weeks, as Iraq stopped oil
exports to protest United Nations sanctions, Germany's HWWA
economic research institute said this week.
(Welt am Sonntag 11/28) |
