Oil Prices have “Reached Bottom”: Oil Minister
Iraqi Oil Minister Adel Abdul Mahdi told a conference in Kuwait on Wednesday that oil prices are unlikely to fall further, following the drop of nearly 60 percent since June:
“Our estimate is that the prices (of oil) have reached the bottom. It is very difficult to drop lower than this …
“We do not find any real justification for the big and persistent drop in oil prices …
“A number of factors will work to correct oil prices upward.”
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Iraqi Oil Minister Adel Abdul Mahdi told a conference in Kuwait on Wednesday that oil prices are unlikely to fall further, following the drop of nearly 60 percent since June:
“Our estimate is that the prices (of oil) have reached the bottom. It is very difficult to drop lower than this …
“We do not find any real justification for the big and persistent drop in oil prices …
“A number of factors will work to correct oil prices upward.”
[You must be registered and logged in to see this link.]