Oil will never cost $100 a barrel. This opinion was expressed by the Saudi billionaire investor Prince Alwaleed bin Talal.
In addition, he described the decision by Saudi Arabia not to reduce oil production as being in accordance with the dominance of market supply over sufficiently weak demand.
"If the supply of oil remains the same, and demand is low, we can expect further price reductions. However, if the supply decreases, and the demand will increase slightly, prices will go up. However, I am sure that we will never see oil prices at $100 per barrel. I said a year ago that a price above $100 per barrel is artificial," he is quoted by Interfax.
