ENI CEO says Oil may go down a little more

Friday, October 9, 2009

Oil prices could fall further, Italian oil company Eni SpA's chief executive officer, Paolo Scaroni, was quoted as saying on Saturday.

'I think for a little while yes,' Italian news agency ANSA quoted Scaroni saying on the sidelines of an event when asked whether oil prices would fall further.

'It depends on what OPEC will decide ... in Cairo.'

Oil has been drifting downwards and is trading around 50 dollars a barrel. But where will it be 1 year from now? Much higher we think.


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