Don't miss

Replay


LATEST SHOWS

PERSPECTIVE

'Macron sees high earners as key to getting the French economy moving again'

Read more

IN THE PRESS

'Shut Up and Drive': Saudi's paradoxical stance after female activists arrested

Read more

BUSINESS DAILY

$2.3bn for two million songs: Sony buys majority stake in EMI

Read more

EYE ON AFRICA

Burundi approves new constitution allowing president to extend time in power

Read more

THE DEBATE

Populist takeover: Italy approves unprecedented coalition

Read more

FOCUS

Young Nicaraguans lead protests against President Ortega

Read more

ENCORE!

Music show: Opera singer Lawrence Brownlee, Snow Patrol & Natalie Prass

Read more

TALKING EUROPE

EU Commissioner Johannes Hahn: 'Either we import stability, or we export instability'

Read more

TALKING EUROPE

From Italy to Cyprus via Hungary: A look back at key events in Europe

Read more

OPEC: oil prices could drop if Iran fears allayed

Latest update : 2008-07-27

OPEC chief Chakib Khelil, who is also Algeria's Energy Minister, has said that oil prices could drop to between 70 and 80 dollars per barrel if the current diplomatic crisis with Iran is solved.

The price of oil could drop to between 70 and 80 dollars a barrel if the dollar strengthens and concerns over Iran are reduced, OPEC chief Chakib Khelil said Saturday.
   
"If the dollar strengthens and if the crisis with Iran is resolved, the trend in oil prices should be to go towards 70 to 80 dollars," the head of the Organization of Petroleum Exporting Countries said on the sidelines of a conference.
   
Khelil is also Algeria's Energy Minister.
   
Oil prices ended the week at around 125 dollars a barrel in London and New York. Crude oil prices have dropped by nearly 25 dollars on both sides of the Atlantic in less than two weeks.
 

Date created : 2008-07-27

COMMENT(S)