Oil prices to slip back to around $70 a barrel - Eni Chief Executive
Eni Chief Executive Paolo Scaroni reiterated he expected oil prices to slip back to around $70 a barrel from their current record levels above $130. Oil was at around $133 on Tuesday morning.
"The market is well supplied ... Several signs let me think that demand has started to fall. I think that in the long term, prices will fall back to more reasonable levels, around $70 a barrel," he said.