General Motors Corp expects a long-term oil price of $30-35 a barrel range, said Larry Burns, the carmaker’s vice president of research.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Oil prices are also likely to become more volatile over the next few years, the Financial Times quoted Burns as saying.
However, expectations of continued high oil prices are not likely to accelerate GM’s adoption of hydrogen fuel-cell technology, he added.
US crude futures are currently trading above $40 a barrel. OPEC, whose ministers are due to meet in Amsterdam this weekend, has a target price band of $22-28 a barrel.
