Oil price: forecast

Oil prices continue to fall to $ 65

In brief: Oil can not overcome a mark of 90 dollars, and continues to fall against the reduction in demand for black gold.

Oil-producing Gulf Arab countries show a complete indifference to the fall in oil prices, which lasts more than a week. At an energy conference almost all they talked about that until there is no need to hold an extraordinary meeting of OPEC. “I did not worry,” – said, in particular with regard to falling prices for “black gold” Ali al-Naimi, oil minister of Saudi Arabia, which serves as the core of OPEC.

“OPEC does not stand still. OPEC is always in motion” – he told reporters on the sidelines of an energy conference of Arab countries, which began on Sunday in the capital of Qatar.

He was seconded by Qatar’s Energy Minister Abdullah al-Attiyah, who said that so far not received any proposal to hold an extraordinary meeting of oil cartel. And in the fall of prices, he accuses the psychological factors that influence is now on the market.

In his speech, which took place after Saturday’s conversation with Kuwaiti counterpart, al-Attiyah said that while all oriented to a scheduled meeting in October, an extraordinary meeting may be held only if oil prices plunge below the 65 dollars per barrel.

Pavel Migin
2010-05-09 22:16, Economics.

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