Oil price volatility is here to stay, with prices fluctuating within the range of $70-110/bbl and averaging $85-90/bbl this year. Also, demand growth has failed to waver because new players have emerged, with growth in China and the Middle East, according to Fereidun Fesharaki, chairman and chief executive officer of FACTS Global Energy. Jim Van Blaricum
Fesharaki voiced his comments Apr. 7 during the opening of the sixteenth annual Middle East Petroleum & Gas Conference (MEGC), which was themed "Oil Market Fundamentals in the Middle East: Geopolitics vs. Geology."
Fesharaki, who served as MEGC conference chairman, gave a commentary on the state of the global oil and gas markets, touching on a variety of aspects.
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April, 2008