World oil prices may fall in next months - experts of Arthur Andersen and Cambridge Energy

/IRBIS, Feb.8, 00/ - PRIME-TASS informs, with the reference to the specialist of Arthur Andersen and Cambridge Energy Research Associates, that world oil price may fall in next months. They believe OPEC has a clear understanding of maximum possible prices and the risks associated with it, and also a possible sharp decline below $10 per barrel. Oil producing countries want the balance between demand and supply maintained, neither they want the collapse of the market due to high prices that may affect the economic growth. Experts expect OPEC will increase production in late spring. It may bring the prices down to acceptable levels and rein the inflation. USA is hardly affected by inflation, though some industries can feel it already. Volume of exploration works did not change much, which means current price level will not exist for so long. World bank expects world oil prices to fall down to $20 per barrel from $30 per barrel later this year, which will be sufficient for the producers to make a profit and acceptable for the buyers. World of Oil magazine believes average price of oil in the year 2000 will be around $25-28 per barrel, which may stimulate investments to this sector. It also says drilling works will jump 21.9% up to 60,343 wells compared to last year.