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Sawiris Naguib: Oil price to rise up to $100

08.05.2020,12:18


May 8, Fineko/abc.az. In a year and a half the price of a barrel of oil will rise up to $100.

ABC.AZ reports with reference to the foreign media that the statement was made by Egyptian billionaire Naguib Sawiris, the head of holding company Orascom Telecom.

He expressed confidence that in 18 months the price of oil will reach $100 per barrel.

In his opinion, Russia and Saudi Arabia have started a price war to withdraw US shale oil producers from the market: "Moscow and Riyadh knew that the price of black gold would fall, but they complicated the situation to eliminate a competitor, expecting that later the price for a barrel of oil would be $50 and $60. I think it's a game against the U.S.”