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2008-05-21

OPEC's Badri says worried by oil price speculation

OPEC Secretary General Abdullah al-Badri said on Tuesday he was "worried" because supply and demand factors were not behind high oil prices.


In an interview with Reuters during a visit to Venezuela, Badri said oil prices could keep rising if non-market factors such as the weakening dollar continue to put pressure on prices but that OPEC would only act when market fundamentals showed a need to do so.

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Disclaimer

Ours is an advisory role. The final decision and consequences based on our Information is solely yours. Moreover, in keeping with regulatory guidelines, we do not guarantee any returns on investments. Prospective investors and others are cautioned that any forward-looking statements are not predictions and may be subject to change without notice.