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European Chemical Industry Council (Cefic), Brussels, reckons Brent crude will be sustainable at $16/bbl by winter 1994-95. (crude oil prices) (Brief Article)

The Oil and Gas Journal

| July 04, 1994 | COPYRIGHT 2003 PennWell Publishing Corp. (Hide copyright information)Copyright

European Chemical Industry Council (Cefic), Brussels, reckons Brent crude will be sustainable at $16/bbl by winter 1994-95. Underlying fundamentals point to a gradual firming of oil prices after winter, says Cefic, contending stock levels should be normalized in 1995, demand for oil will continue to rise more than 1 million b/d due to growing consumption in developing countries and recovery of OECD …

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