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(hydrocarbonprocessing) -- The recent rise in global oil
prices to as high as USD123/bbl represented a "peak" and does not change
Brazil's forecast for average prices in 2012 of USD100/bbl, said Petrobras' CEO.
According to Petrobras economists, oil prices could fall even lower "in the next
few years," reaching USD80 or USD90/bbl.
The recent rise in global oil
prices to as high as USD123/bbl represented a "peak" and does not change
Brazil's forecast for average prices in 2012 of USD100/bbl, Maria das Gracas
Foster, chief executive of state-run energy company Petrobras.
"We don't
believe that this recent high level of oil prices is going to hold," she told
the Globo television network. "The trend is for prices to fall as geopolitical
pressures in oil-producing countries diminish through the course of the
year."
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