SunSirs: Thai Oil Expects Crude Oil Prices to Stabilize
June 21 2024 10:28:39 SunSirs (Selena)
According to the Bangkok Post on June 11th, Thai Petroleum Corporation Limited (the largest refinery in the country based on production capacity) stated that due to an increase in oil supply and the expected continued escalation of geopolitical conflicts in the Middle East, global crude oil prices in the second half of 2024 should remain similar to last year. The refinery stated that the average crude oil price last year was $82 per barrel, and it is expected that this year's price will be between $80 and $90. Thai Oil Company's Vice President of Financial Planning, Tosan, stated that oil supply will not be affected by the tense situation between Israel and Iran, and as negotiations continue, this tense situation should be alleviated.
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6.1-6.21
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