Oil producers, such as OPEC, are parroting a familiar line: speculators and the weak dollar are to blame for high oil, not us! At the same time, however, they’re trying to get the world comfortable with the concept of $200 oil. (Guardian):
Abdullah al-Badri, Opec secretary general, said the cartel saw no problems with the fundamentals of oil supply and demand. “Even if we increase output tomorrow, the prices will not come down.”
Libya’s leading oil official, Shokri Ghanem, told Bloomberg TV: “It is out of our hands. $200 a barrel is not logical but even $135 is not logical, so yes oil could reach $200 a barrel. Why not?”
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