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Oil prices unlikely to return to US$100 a barrel, says Saudi official

Tuesday, March 24, 2015 - 05:50

Higher prices expected to draw more shale oil producers to the market.


OIL won't rebound to US$100 a barrel because increased prices would draw more shale and other output from higher-cost producers to the market, said Mohammed al-Madi, Saudi Arabia's governor to Opec.

"It will be difficult to reach US$100 or US$120 another time," Mr al-Madi

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