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KPMG: Most oil execs expect 2011 oil prices to exceed $121/bbl

06/06/2011
Paula DittrickSenior Staff WriterEnergy executives expect continued volatility in oil prices for the rest of the year, with 64% forecasting crude oil prices will exceed $121/bbl on the New York Mercantile Exchange, said a survey released by KPMG Global Energy Institute during its annual energy conference in Houston.The audit, tax, and advisory firm polled 550 financial executives from global energy companies during April. KPMG reported 6% of executives surveyed expect 2011 crude prices will exceed $151/bbl before yearend.Another 32% expect NYMEX crude oil prices will peak at $121-130/bbl. One third of executives forecast even higher prices, with 17% saying they expect $131-140/bbl, and 9%...
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