The prophecies keep getting worse: Emirates CEO says oil prices could fall as low as $30
‘I’ve always said the realistic price for out-of-ground: $70. Should never, ever have been above that.
The airline industry is set to reap the benefits of lower oil prices, which could fall to as low as $30-a-barrel, according to the Emirates Airline CEO Sir Tim Clark. ‘I’ve always thought personally it would go down to $30 again, but we’ll see,’ he told CNBC in an exclusive interview.
‘I’ve always said the realistic price for out-of-ground: $70. Should never, ever have been above that.’ That said he reckons recent talk of scrapping the much admired A380 has been ‘taken out of context’.
- Will terror attacks damper Arabs' appetite for European holidays?
- So cool it's hot: Saudi Arabia's $3.2B HVACR market driven by construction boom
- US, EU protectionist policies may be a blessing in disguise for GCC suppliers
- Dubai to Doha: How far can you stretch your dirham?
- OPEC's poor history of compliance will make production cut deal a challenge
- A dangerous possibility: why the world might be on the brink of an oil price war
- A terrifying prophecy: oil prices could fall to $25, says Lukoil
- Oil will keep GCC warm if the world freezes over
- The counter-hypothetical: Malaysia airlines downing 'could have been avoided,' says Emirates
- Iran, Iraq weaker links: who will be hit the hardest from plunging oil prices?