Opec says oil could hit $200

Opec’s president on Monday warned oil prices could hit $200 a barrel and there would be little the cartel could do to help. The comments made by Chakib Khelil, Algeria’s energy minister, came as oil prices hit a historic peak close to $120 a barrel, putting further pressure on global economies.

[ready to drill yet - or are we going to wait until the 200$ mark?]

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