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LequteMan
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Nigeria- General Secretary of Organization of Petroleum Exporting Countries, OPEC, Abdullah al-Badri has said that global price of oil has hit its rock bottom.
Speaking at the World Economic Forum in Davos, Switzerland on Wednesday, he said he did not see the price of oil declining any further.
"The price will not go to $20 or $25, I think the price will stay at where we are now. We have seen this before -- prices coming down very fast and go up very slow. I tell you, the price will rebound and we will go back to normal very soon." he said.
Also Iraqi Oil Minister Adel Abdul Mahdi also predicted that world prices would not fall much further after a plunge of nearly 60 percent since June, according to the Mail Online.
"Our estimate is that the prices have reached the bottom. It is very difficult to drop lower than this," Abdul Mahdi told a conference in Kuwait.
#OPEC #Iraqi #Oil #Nigeria
Speaking at the World Economic Forum in Davos, Switzerland on Wednesday, he said he did not see the price of oil declining any further.
"The price will not go to $20 or $25, I think the price will stay at where we are now. We have seen this before -- prices coming down very fast and go up very slow. I tell you, the price will rebound and we will go back to normal very soon." he said.
Also Iraqi Oil Minister Adel Abdul Mahdi also predicted that world prices would not fall much further after a plunge of nearly 60 percent since June, according to the Mail Online.
"Our estimate is that the prices have reached the bottom. It is very difficult to drop lower than this," Abdul Mahdi told a conference in Kuwait.
#OPEC #Iraqi #Oil #Nigeria
