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FX.co ★ Qatari energy minister needs ‘fair’ oil prices

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Forex Humor:::2016-05-31T13:23:00

Qatari energy minister needs ‘fair’ oil prices

Qatar’s government determined ‘fair price’ for crude oil. According to the state, oil should be worth 65 dollars a barrel.
Mohammed bin Saleh al-Sada, Qatar's energy minister, stated the new price. He is sure that 65 dollars a barrel will prevent them from price shock in future and will attract needed investments to the sphere. "The oil market is recovering slowly but steadily. Luckily, the fundamentals show it is heading in the right direction. I don't think we are yet at a fair price. We need to have a fairer price so that we can have the ability to invest more in order to secure the energy supply to the world and avoid any price shock," al-Sada said.
Crude prices managed to break through an important psychological barrier and climb above 50 dollars a barrel for the first time in almost seven months. Besides, a planned meeting of Organization of the Petroleum Exporting Countries also boosted oil prices. OPEC’s officials assess the current situation in the global crude market more positively and intend to discuss further strategy during the negotiation in Vienna. Perhaps, Qatar’s wish will come true soon and oil prices will rise to 65 dollars a barrel.

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