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Oil price collapse warned by futurologist at energy symposium
Herman Kahn, director of the Hudson Research Institute, warned oil prices could collapse unless Middle East production is cut within two to three months. He noted last year’s one billion barrels of Middle East oil stored by consumer nations and predicted ongoing storage and no rise in demand if oil remains near ten dollars a barrel. He also foresees possible OPEC breakup.
MENTIONED IN THIS ARTICLE
Uala Lumpur
Malaysia
Herman Kahn
Middle East
Kahn
Hudson Research Institute
Energy Resources and Environment
Organization of Petroleum Exporting Countries
OPEC