PAJ President Sugimori: ‘Crude Price Will Not Go Up Further for A While’

摘要

President Tsutomu Sugimori of the Petroleum Association of Japan (PAJ), also Chairman of the board and groupCEO of ENEOS Holdings, commented on the Dubai crude oil price at a press briefing on January 21, “The price level willremain mid-$50 for one month from now.” Demand recovery is forecast to slow down due to resurgence of COVID-19,but the market is being supported by Saudi Arabia’s announcement of a plan to individually cut an additional 1 millionbarrels of daily crude oil production. Amid such the situation that strong factors are countervailing weak factors, hecommented, “(At this point) the price will not go up any further.”