OPEC: Oil prices rebound end of 2015

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OPEC: Oil prices rebound end of 2015

Post  Admin on Mon Dec 22, 2014 6:55 am

December 22, 2014, 10:53

BAGHDAD - ((eighth day))

According to the OPEC oil exporters that the oil market will rebound the end of 2015.
Secretary General of OPEC Abdullah al-Badri said he hoped to recover the price of oil by the end of the second half of 2015.

"We can not see the market at the moment and we have to wait for the end of the second half of 2015 to see how the market will react with such low prices.

The oil minister Adel Abdul Mahdi, yesterday said in remarks on the sidelines of an OPEC meeting in Abu Dhabi that he sees no need for an emergency meeting of OPEC, but "we have to wait and see to see" whether the organization has taken the right decision to maintain the production level unchanged.

And that "prices stabilize around current levels at around $ 60 a barrel.

The price of oil has fallen clearly since last September amid concerns about excess supply in the global market and weak economic growth in East Asia to reach oil prices in Brent crude to $ 60 per barrel and $ 57 per barrel in the OPEC basket.



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