Egyptian billionaire: Buffett is wrong, oil will hit $100 within 18 months ...United Arab Emirates

Russia Today - Economy
Egyptian billionaire: Buffett is wrong, oil will hit $100 within 18 months
source : Russia Today ( United Arab Emirates ) () 71
Oil could hit $100 per barrel within the next 18 months, Egyptian billionaire Naguib Sawiris told CNBC on Wednesday—a hard pill to swallow with Brent currently trading below $30 per barrel. Sawiris, chairman of one of Egypt’s largest companies, Orascom Telecom Media and Technology Holding S.A.E., is Egypt’s second-richest man and has a net worth somewhere between $3 billion and $7.5 billion. It’s hard to pin down because net worth is a (downward) moving target these days. Sawiris told CNBC that he would buy airline stocks. At the same time, Warren Buffett’s Berkshire Hathaway dumped all of its airline holdings after losing nearly $50 b

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