ID :
269057
Thu, 12/27/2012 - 12:40
Auther :

Thaioil expects world crude prices to drop next year

BANGKOK, December 27 (TNA) - Thaioil Public Company Limited or Thaioil, Thailand's largest producer of refined oil, says it foresees Dubai crude oil prices on the world market should drop to 105 US dollars per barrel on average in 2013 due to declining global demand. According to Thaioil, the falling Dubai crude oil prices to about 105 US dollars per barrel on average next year, from some 109 US dollars per barrel on average this year, should also be caused by an excess supply as crude oil exporting countries would likely increase their production. Thaioil pointed out that the uncertainty of the global economic situation, unrest in the Middle East and the role of the Organization of Petroleum Exporting Countries (OPEC) in controlling world crude oil supply should continue causing the global crude oil prices to fluctuate next year. The world crude prices have highly fluctuated this year, from 85 US dollars to 125 US dollars per barrel with their average price standing at 109 US dollars per barrel, up from 106 US dollars last year, due to impacts from political tension in the Middle East and global economic problems. (TNA)

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