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Oil Prices Expected To Remain Volatile Next Year


Jai Dee

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PTT EXPECTS OIL PRICES TO REMAIN VOLATILE NEXT YEAR

PTT Plc. expects that oil prices will remain volatile, and that retail benzene prices in Thailand will be between 25 and 26 baht per liter.

PTT's Senior Executive Vice President for the Oil Business Group, CHAIYAWAT CHURIT (ชัยวัฒน์ ชูฤทธิ์), said the global oil prices have relaxed to an extent, with the West Texas crude having hit its lowest price in 5 months due to selling by hedge funds and the market's reducing concern about oil supply during winter. However the oil price is expected to swing up and down without a clear direction, and thus the public needs to continuously save energy.

For next year, experts believe the Dubai crude would remain at a high price level between 50 and 60 USD a barrel, while the retail price of benzene in Thailand would be between 25-26 baht a liter. Intense competition would be at hand in the Thai oil market, as can be seen from the current price cuts by each company in efforts of attracting consumers.

Source: Thai National News Bureau Public Relations Department - 21 November 2005

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