Total CEO Says Oil Prices Could Hit $145 by 2014

Total's Chief Executive Christophe de Margerie foresees the price per barrel of crude oil surpassing $145 in the near future, reports Dow Jones Newswires.

In an interview with Le Parisien published Friday, the head of the French oil major said, "We risk to face a new oil crisis at a time when demand will surpass supply in 2014/15."

"It is urgent that we invest," Margerie added.

Margerie revealed that Total has bank accounts in "tax havens," and should a decision be made at an international level, the company would be prepared to withdraw the money, Dow Jones reported.

 

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Brent Crude Oil : $53.92/BBL 2.79%
Light Crude Oil : $51.08/BBL 2.66%
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