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Qatar oil min says oil price should stay above $70

Posted on 11 November 2008

From Guardian: Oil should be above $70 a barrel to encourage investment in increased production capacity and avoid creating future supply crises, Qatar’s oil minister said.

U.S. oil traded around $63 a barrel on Monday, having tumbled more than 50 percent from its July peak above $147 as the global economic slowdown eats into demand. “Now what we are seeing is that the oil price went to a level that leads me to be concerned it will create another crisis in the short term or medium term for supply,” Abdullah bin Hamad al-Attiyah said on the sidelines of an energy conference in Qatar….. Full Article: Source


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