There is a strong probability that the price oil will reach US$100 a barrel, according to Larry Fink, chief executive of the world's largest asset manager BlackRock (NYSE:BLK).
Addressing the Future Investment Initiative conference in Saudi Arabia on Tuesday, Fink also called on the public and private sectors to collaborate to tackle global challenges such as climate change.
“(By) bringing public and private sector together large global change can be made,” he said.
Brent crude was down 14 cents at US$85.85 a barrel at midday.