Oil prices will rebound rather than extend their decline, OPEC’s Secretary-General, Abdalla El-Badri, said in an interview with Bloomberg Television at the World Economic Forum in Davos, Switzerland.
Producers outside the Organization of Petroleum Exporting Countries should be first to reduce their output amid a surplus that’s pushed crude below $50 a barrel, he continued.
“The price will not go to $20 or $25, I think the price will stay at where we are now,” El-Badri said. “We have seen this before -- prices coming down very fast and go up very slow. But prices will rebound.”
-RW
Wouldn't it be fairer for the largest producers to reduce their surplus first?
ReplyDeleteRW hopeful that towarisch Putin will not suffer so much in the future...
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