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Saudi Arabia says US$60 oil 'not unthinkable' by year-end

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The Saudi minister also said Opec should make sure not to crimp too tightly and create a shock to the market.

Istanbul

SAUDI Arabia said on Monday it was "not unthinkable" that the price of crude oil could surge to US$60 a barrel by the end of the year but warned against drastic production cuts that might shock markets.

In his opening keynote speech at the World Energy Congress in Istanbul...