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Audio – $88 a barrel is good (and not so good) news for OMV
Are oil prices hitting a record high at $88 per barrel a good or a bad thing for an oil company?
Well, for OMV — which has more conservative price estimate — it means that the company should see a positive effect on earnings, OMV Chief Executive Wolfgang Ruttenstorfer told the Reuters Central European Summit.
Yet it also could bring about a fierce battle on the cost side over the next two years.