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FINANCIAL NEWS
Algeria: Oil prices between $90, $100 reasonable
12 Oct 2010
(MENAFN) Algerian Energy and Mines Minister Youcef Yousfi said that an oil price of between $90 and $100 per barrel would be ‘reasonable’, Reuters reported.
He pointed out that the decline in the US dollar’s value and its impact on the earnings of producers will be discussed at the Organization of Petroleum Exporting Countries (OPEC) meeting which will be held on October 14 in Vienna.
World oil prices have recovered from their lows at the end of 2009 and start of last year caused by the economic slowdown, but since the beginning of this year they have flattened out around the $80 mark.
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