OPEC president warns no end to oil price rises

OPEC president Chakib Khelil warned Sunday that oil prices will continue to rise in an interview in the Algeria-News.

"As producer countries we think that the current supply is sufficient, that this balance in supply is in everybody's interests and that it shouldn't be disturbed..."

"I can affirm that all the (OPEC) countries are in favour of new explorations (of oil reserves), but the fact is that the embargo imposed by Libya has prevented any increase of investment in that country, just as the current embargo on Iran is stopping anyone investing there,"

[I.e., only Iran and Libya can be developed for more oil. Hmmm. Radical idea: let's develop our reserves here...]

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