Allianz predicts oil price of 200 dollars: report
German insurance giant Allianz expects the oil price to hit 200 dollars a barrel in the next two years, according to a press report to be published Monday.
By Agencies |
BERLIN: German insurance giant Allianz expects the oil price to hit 200 dollars a barrel in the next two years, according to a press report to be published Monday.
"I cannot imagine that post-2010 we will have an oil price of below 200 dollars a barrel in the long term," Allianz board member Joachim Faber told Monday's edition of a newspaper.
In May, US investment bank Goldman Sachs's star analyst Arjun Murti also predicted that the oil price could strike 200 dollars within the next two years.
"The possibility of 150-200 dollars per barrel seems increasingly likely over the next six to 24 months," he said in a research note.
On Thursday, the oil price soared to new records on the back of a weak dollar and supply concerns, reaching 146.69 dollars a barrel in London and 145.85 dollars in New York.
"I cannot imagine that post-2010 we will have an oil price of below 200 dollars a barrel in the long term," Allianz board member Joachim Faber told Monday's edition of a newspaper.
In May, US investment bank Goldman Sachs's star analyst Arjun Murti also predicted that the oil price could strike 200 dollars within the next two years.
"The possibility of 150-200 dollars per barrel seems increasingly likely over the next six to 24 months," he said in a research note.
On Thursday, the oil price soared to new records on the back of a weak dollar and supply concerns, reaching 146.69 dollars a barrel in London and 145.85 dollars in New York.
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