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“I’m sure we’re never going to see $100 anymore. I said a year ago, the price of oil above $100 is artificial. It’s not correct,” Prince Alwaleed bin Talal told USA Today.

Oil won’t return to $100 a barrel again, Saudi billionaire businessman Prince Alwaleed bin Talal said, according toUSA Today.

“If supply stays where it is, and demand remains weak, you’d better believe it is going to go down more,” the newspaper reported him as saying.

“I’m sure we’re never going to see $100 anymore. I said a year ago, the price of oil above $100 is artificial. It’s not correct,” he told the newspaper.

Others disagree. Venezuelan President Nicolas Maduro called on OPEC producers to work together to spur a recovery, saying prices need to return to that $100 a barrel figure for economic equilibrium.

Written by the National Post
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