| Fundamental factors do not justify the sharp drop in oil prices, OPEC Secretary-General Abdullah al-Badri said on Thursday, forecasting a price rebound by the second half of 2015. “We are concerned but we are not panicking,” he told reporters at a news conference on the group’s 2014 World Oil Outlook.
“We don’t see that much of change in fundamentals. The decline is 28 per cent, it’s a little bit too much,” he said, adding the group was evaluating the situation to gauge how events might develop. OPEC meets on Nov 27 and Badri said OPEC had not invited any other producers to attend...............................................Full Article: Source
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