Finding a new balance
Energy market veterans see oil prices stabilising at US$60-80 after last year's dramatic plunge.
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AFTER plunging as much as 60 per cent in the past year, oil prices are expected to bottom out as early as the middle of the year before stabilising at between US$60 and US$80 a barrel.
This was the view of industry veterans speaking at the Credit Suisse Global Megatrends Conference 2015 held on April 21, a forum for leading figures in economics, business and politics to meet and share their insights and analyses of the latest developments in the global economy.
"In the medium term, we see oil at US$60-80 by the end of the decade. Beyond that, we see demand taking over. In real terms, it is going to be above US$100 by the end of the next decade," said Tushar Bansal, head of oil, East of Suez, FGE Singapore.
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