World oil prices projected to reach US$100 a barrel soon

BANGKOK, June 22 (TNA) - Thaioil Public Company Limited or Thaioil has projected that world crude oil prices will likely reach 100 US dollars per barrel in the second half of this year although global crude prices have considerably dropped lately. Thaioil said on Friday that it views fluctuations in the world crude oil prices will continue in the second half of this year due to concerns over the ongoing debt crisis in Europe and the global economic downturn. According to Thaioil, world crude oil prices should exceed 100 US dollars per barrel again in the coming months if debt-ridden Greece decided to be in the eurozone and came up with concrete solutions to its debt woes. Besides, world oil demand will likely rise as this year's winter is approaching and unrest has continue in major oil producing and exporting countries, namely Syria, Sudan and Iraq, prompting the Organization of Petroleum Exporting Countries (OPEC) to have set the world crude oil prices above 100 US dollars a barrel. As the world crude oil prices have dropped lately, concerned parties are trying to raise it; so,Thaioil foresaw that the world crude oil prices should hover around 100-110 dollars per barrel in the coming months.(TNA)