Published
Dubai, December 14, 2014 (AFP)
The fundamentals of the oil market, including supply and demand do not justify the current price collapse, said on Sunday Secretary General of OPEC, suggesting a major role of “speculation”.
“We want to know the real reasons that led to such a fall in prices of crude,” said Abdullah al Badri told reporters in Dubai, adding that “supply and demand rose – lègère– which does not explain this collapse by 50%” since mid-June. If it continues, it will mean that “speculation contributes strongly to push prices down,” he has said.
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