Will oil strike $380 a barrel by 2015?
By Adam Porter in Perpignan, France
A steep rise in prices is expected due to growing energy demands
A report prepared by energy economists at the French investment bank Ixis-CIB has warned crude oil prices could touch $380 a barrel by 2015.
Analysts Patrick Artus and Moncef Kaabi said in the next 10 years demand for oil will outstrip supply by around 8 million barrels per day (mbpd).
"If one takes into account the level of previous oil shocks such as in the 1970's, we don't think a price level of $380 per barrel is out of the question," they said.