The price of oil could reach $ 200 per barrel if OPEC does not take steps - Eni CEO

Almaty. January 22. Silkroadnews - If OPEC does not take action, the oil price could reach $ 200 per barrel, warns Eni CEO Claudio Descalzi.
"The head of the Italian energy company Eni Spa urged OPEC on Wednesday to act to restore stability in oil prices, which, he warned, could reach $200 a barrel in a few years as a result of the current low investment", - said the agency Reuters.
It is noted that, according to K.Deskalzi, the price of oil has fallen due to excess supply over demand and will remain low another 12-18 months.
According K.Deskalzi, further reduction of investment in oil production could lead to future shortages and price spikes.
"Many of our long-term projects for the production of oil intended for 5 or 6 years. If we significantly reduce investment now, we may have faced with insufficient production after 4 or 5 years, which will result in an increase in the price of oil to $200 per barrel. We need stability. OPEC - is the central bank for the oil, which should ensure the stability of oil prices and be able to make regular investments in the oil sector",- said K.Deskalzi.