SAUDI PRICE WAR
Crude oil prices are still about half their value compared with a year ago, but the now prolonged slump is unfolding such that another rise could be on the horizon, a panel of industry observers agreed on May 20 during the XXIV La Jolla Energy Conference in La Jolla, Calif.
The panel's most bullish outlook came from Peter Tertzakian, chief energy economist and managing director at Calgary-based, energy-focused private equity manager ARC Financial Corp., who believes there may be an eventual "rapid escalation of prices" if there's a continuation of the current "price war," which he sees lasting at least another 9 months.
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