Oil prices are expected to rise further despite a slight fall to below 100 U.S. dollars per barrel on Thursday, Norwegian oil analysts said.
As oil production capacity has been utilized to a great extent, any international crisis or major accident could push oil prices to as high as 150 dollars a barrel, said Thina Saltvedt, an oil analyst with Nordea Bank, Norwegian newspaper Aftenpolten reported on Thursday.
Steinar Juel, chief economic analyst from the bank, agreed that oil prices would maintain their upward trend, as world demand for oil remained high.
Norway, one of the major oil producers and exporters in the world, produces an average of 2.3 million barrels per day.
Source:Xinhua
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