“Our own research team is expecting oil to go up to between $40 and $60 per barrel within this year. And that is based on their expectation that the current oversupply in the market will start to shrink,” he told The Brunei Times on the sidelines of a market outlook seminar last week.
Lim said while it remains unknown when oil prices will begin its rebound, he said at some point, “it has to rise”.