Investor January Haudemann-Andersen (56) think oil prices will remain at around $ 50 a barrel because it produced too much oil.
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While oil prices tilted below 50 dollars a barrel Wednesday, was private investor January Haudemann-Andersen spectator during the annual Skagen conference in Oslo. He does not fancy the prospect. In a coffee break, he draws a gloomy prognosis on a notepad he refers to DN. He believes in an oil around $ 50 a barrel for years. Haudemann-Andersen predictions stands in sharp contrast to among others economics professor Jeffrey D. Sachs, who in yesterday DN said he believes oil prices will return to $ 100 a barrel within three years.
Jan Haudemann-Andersen- It’s just to see what happened last oil price collapsed, says Haudemann-Andersen and draws a parallel to price collapse in 1986.
From 1975 to 1986, oil prices rose by 600 percent. From 1986 the oil price halved in a short time and remained at around $ 20 a barrel for over 15 years. He believes the market is out of equilibrium again. Oil prices have been high for long. This has led to rapid technological development which now provides for large supply of oil.
– It may soon be ten years of low oil prices at around $ 50 a barrel. I think so.
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