MILAN, Nov 22 (Reuters) - Oil prices could fall further, Italian oil company
Eni SpA's chief executive officer, Paolo Scaroni, was quoted as saying on
Saturday.
Oil has plummeted nearly $100 a barrel since hitting record highs of over
$147 in July, with demand shrinking as the credit crisis hit large consumer
nations.
"I think for a little while yes," Italian news agency ANSA quoted Scaroni
saying on the sidelines of an event when asked whether oil prices would fall
further.
"It depends on what OPEC will decide ... in Cairo."
Members of the Organisation of the Petroleum Exporting Countries (OPEC)
will meet next week in Cairo, but may not take any decision to reduce output to
defend prices.
When asked whether he thought OPEC could cut output, ANSA quoted Scaroni
as saying: "I don't think they think they will cut (next week), but they could
prepare a cut a few days later ... I don't know."
Scaroni also said European families could save 2,000 euros if oil prices
stayed at current levels next year.
He said an attempt to bring back nuclear power in Italy -- banned 20
years ago in a referendum -- was "laudable" but would require "a titanic effort"
to convince Italians. Keywords: ENI OILPRICES/
(Milan newsroom +39 02 6612 9507, fax +39 02 801 149,
milan.newsroom@reuters.com)
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