06 Dec '11, 9am

#china #logistics China Aviation Oil says oil prices to remain high in 2012 - Channel News Asia

#china #logistics China Aviation Oil says oil prices to remain high in 2012 - Channel News Asia

SINGAPORE: China's biggest jet fuel supplier said world oil prices will remain elevated throughout 2012. China Aviation Oil Singapore (CAO) said the global economic slowdown that is widely forecast to deepen next year will not undermine crude prices, which the company forecasts will trade between US$90 and US$110 per barrel. Oil futures trade in New York is currently at around US$101 a barrel. Volatile financial markets this year have pushed oil prices to as low as US$76 in October, down from the year's high of $114.60 in April. In an interview with Channel NewsAsia, Chairman of CAO, Sun Li, said that his forecast was barring unforeseen circumstances such as a full-blown financial crisis. The jet fuel trading company said regional Asian demand for air travel and transport will counter global economic uncertainty to support prices. Steady growth in China's aviation sector w...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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