By ROGERIO JELMAYER
The recent rise in global oil prices to as high as $123/bbl
represented a "peak" and does not change Brazil's forecast for
average prices in 2012 of $100/bbl, Maria das Gracas Foster,
chief executive of state-run energy company Petrobras, said in
a television interview Thursday night.
"We don't believe that this recent high level [of oil prices]
is going to hold," she told the Globo television
"The trend is for prices to fall as geopolitical pressures in
oil-producing countries diminish through the course of the
She said that, according to Petrobras economists, oil prices
could fall even lower "in the next few years," reaching $80 or
$90 a barrel.
Foster denied any plans by Petrobras to raise domestic fuel
prices, saying the company "operates on the basis of long-term
Dow Jones Newswires