At a time when global airlines industry is fighting its wildest card — the oil price, Emirates’ President, Tim Clark, says that oil prices should be brought down to $80 a barrel in order to help global economy recover.
“Supply and demand says you need oil price to be at $80 a barrel to get things going again. So $80 is where oil should sit. And mark my words, you get it down to $80, keep it at $80, and then you see the global economy start to move again,” Clark told Gulf News in an interview in Beijing last week on the sidelines of an industry event.
Having averaged nearly $120 a barrel in the first quarter of this year, Brent crude oil has slipped as low as $95 a barrel this month, the lowest level since January 2011 on signs the global economy is slowing down.
No comments:
Post a Comment