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US$200 oil possible if no investment in new supply, says Opec
Published Tue, Jan 27, 2015 · 09:50 PM
London
OPEC's secretary-general says oil prices as high as US$200 a barrel are possible if producers fail to invest in new supply.
"If you don't invest in oil and gas, you will see more than US$200," Abdalla El-Badri said in an interview in London on Monday, without giving a time frame. West Texas Intermediate, the US crude benchmark, erased a decline of as much as 2.7 per cent following his comments.
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