February 2016

Found 1 blog entry for February 2016.

After the plummet of oil prices around the world during the past few months, OPEC’S Secretary-General, Abdulla al-Badri has stated that these prices have finally hit bottom. Not only this, but the fact that he considers there is a real possibility that prices could go all the way up to $200 per barrel in the future. The Secretary-General is not the only who holds this opinion.

He stated: "Now the prices are around $45-$55, and I think maybe they [have] reached the bottom and we [will] see some rebound very soon." al Badri says that there are signs that the oil market is self-correcting as oil companies have cut spending, which will lead to lower production growth. However, he also warned that amidst the cuttings in the industry, the future oil supplies

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