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Klepach predicts rebound of world oil prices

January 14, 2015, 0:38 UTC+3 MOSCOW
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MOSCOW, January 13 /TASS/. Andrei Klepach, the vice-chairman of Vnesheconombank (WEB), told journalists on Tuesday that he expected world oil prices to soar up soon though not as considerably as it was in 2009.

“I believe that the world oil prices will rebound. They may stand at around $40 per barrel at the moment. It was $39 per barrel in January 2009. There will be a rebound but I do not think that it’s going to be as strong as in 2009,” Klepach said.

According to him, the world oil prices will be pretty low for some time before soaring up.

“I believe that the OPEC should sooner or later impose certain restrictions on demand. Many technologies such as shale oil extraction require a higher price level anyway. The range of disbursements there varies from $30 to $70 per barrel. So, I think that prices will go up,” Klepach said in conclusion.

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