Crude oil prices to increase dramatically in 2017-2021

Note: This section contains information in English only.
Source: Commodityonline
© Scanpix/AP

Crude oil market is likely to experience tightness due to market facing long-term restrictions in inventories, said Dawood Nassif from BAPCO. Crude oil prices achieved $100/bbl and will remain at this level but prices are likely to peak by 2017-2021, he added. Refineries in Europe will face fierce competition from refineries in the Middle East in the next five years, he warned.

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