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07 August 2020 The on-line newspaper devoted to the world of transports 11:54 GMT+2

October 13, 2004

'Current high oil prices unsustainable'

By Helmo Preuss

The current record high crude oil prices were unsustainable according to economists surveyed by I-Net Bridge, but a return to last year's Organization of Petroleum Exporting Countries' (Opec) basket of seven crude oils average of $28.10 per barrel was also unlikely, mainly because of the depreciation of the US dollar against other currencies.
Opec's basket price has been above its preferred target band of $22 to $28 per barrel since December 2 2003 and has averaged $35 so far this year ......
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