‘Oil prices unlikely to come down to $35-40’

In what may be disappointing news for India, energy think-tank FACTS has predicted that global crude oil prices will continue to stay high and said the government needs to take bold decisions like removing subsidies.

Speaking at the Sixth Oil and Gas Conference, FACTS Global Energy Chairman and CEO Fereidun Fesharaki said crude prices were unlikely to fall to $35-40 a barrel level in near future.

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