Brent oil futures remain bullish in the last trading week of 2010 as $100 oil price forecasts for 2011 strengthen with the latest from Iran’s OPEC governor Mohammad Ali Khatibi.
Latest Brent Oil Price
In London, Brent crude oil futures for February 2011 delivery rose 32 cents to $94.09 a barrel on the ICE Futures exchange, while the ICE Dollar Index remained flat in currency markets.
$100 Crude Oil Prices Ahead?
“It is unlikely that OPEC holds an emergency meeting. In the opinion of the experts there is no need for an emergency OPEC meet under stable oil market conditions. It is possible that the price of crude reaches $100 per barrel.” said Iran’s OPEC governor Mohammad Ali Khatibi yesterday.
Meanwhile, Kuwait’s oil minister said the global economy can withstand an oil price of $100 a barrel, while other exporters indicated OPEC may decide against increasing output through 2011 as the market was well supplied.
OPEC’s next scheduled meeting is in June 2011.
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Brent oil futures bullish, Iran adds to $100 price forecasts
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