A report from auditors PricewaterhouseCoopers (PwC) has revealed that oil prices are unlikely to climb back to the $100 level, and will have a limited rise from the current spot price to between $60 and $70 per barrel over the next few years.
The rise, which would pull oil prices up from the below $50 per barrel mark where it has sunk since late October, should facilitate a rise in capital expenditure (capex), PwC argued.
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