Prices of Crude oil may Spikes without New Investment

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Qatar 's oil minister has fixed the Crude oil price as $ 50 per barrel for this year 2009 in recession period of economy . But he said also that $ 75 per barrel is more fair price and for good security and return on investment in production of crude oil . Because after down the prices from $ 147 to 50 $ per barrel , there is high decrease in the investment in this sector.

Saudi based international Energy forum said that in the industry of Crude oil , it is needed $ 500 investments ( Approximate $ 12 trillion ) per year for satisfying the demand of oil in world .

Kuwait's Chief Executive officer of state owned Kuwait petroleum corp. said that we started also new plans for developing its oil sector and fixed goal of production capacity of 4 million barrels per day by 2020 .

I think , If Kuwait petroleum Corp. will take good step for increasing investment then it can increase production and export at fair price and boost his country's economy.

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• Tags: Currency , Business News