Germany’s DIW Institute predicts oil prices will double within 10 years

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This post was last edited by jordan569 on 2013-1-6 at 23:26. The German economic research institute DIW said on the 3rd that due to tightening supply and demand conditions, international crude oil prices could reach $200 per barrel in the next 10 years. 　　 Claudia Canfort, head of the DIW Ministry of Energy, Transport and Environment, said, “Global crude oil reserves will become increasingly scarce, the supply-demand balance will tighten, and crude oil prices will continue to rise.” It is predicted that within the next 5 years, crude oil prices will rise to $150 per barrel, and within the next 10 years they will reach $200 per barrel. 　　 Canforth believes that the recent sharp rise in oil prices is mainly due to market speculation, and oil prices are not expected to fall in the coming weeks; they could rise to $105 per barrel in the short term. However, by the end of this month, if demand for fuel in the market gradually decreases, oil prices might see a brief stabilization. 　　 On the 3rd, futures prices for light crude oil with delivery in February on the New York Mercantile Exchange reached a record high of $100.09 per barrel at one point during trading, before closing at $99.18 per barrel. . Note $ # , $ $