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Opec says oil could hit 200d barrel { April 28 2008 } Original Source Link: (May no longer be active)    http://www.ft.com/cms/s/0/4200dc9e-1521-11dd-996c-0000779fd2ac.html?nclick_check=1 http://www.ft.com/cms/s/0/4200dc9e-1521-11dd-996c-0000779fd2ac.html?nclick_check=1 Opec says oil could hit $200 By Carola Hoyos in London Published: April 28 2008 13:56 | Last updated: April 28 2008 20:03 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. His remarks suggest Algeria wants Opec to continue to resist calls by US and European leaders for the cartel to pump more oil to help ease prices. But Mr Khelil blamed record oil prices on the weak dollar and global political insecurity. He told El Moudjahid, Algeria’s government newspaper: “I don’t think that an increase in production would help lower prices, because there is a balance between supply and demand and the stocks of gasoline in the United States have recorded a surplus and are at their highest level for five years.” He added: “The prices are high due to the recession in the United States and the economic crisis, which has touched several countries, a situation that has an effect on the value of the dollar. Each time the dollar falls 1 per cent, the price of the barrel rises by $4 and of course vice versa.” Some US senators have pinned the blame for high oil prices directly on Opec and Saudi Arabia, its largest and most powerful member. In a letter to President George W.?Bush last week, they said Riyadh had cut its oil production by about 2m barrels a day over the past three years, even though oil prices had continued to rise. Copyright The Financial Times Limited 2008

100d oil with penty supply and low demand { February 19 2008 } Bush begs arabs for lower prices { January 16 2008 } Bush wants to buy and store oil { May 13 2008 } Candidate mccain says oil prices may rise { May 2008 } Citi analyst says oil supply is comfortable { May 6 2008 } Dc metrorail breaks ridership records { June 4 2008 } Energy dept says oil prices to stay high { May 2008 } Farmers use mules to save gas { April 2008 } Fossil petroleum fuels not from fossils { June 12 2008 } Gas prices causing migration to amtrak stations { June 18 2008 } Hypermilling drivers change habits to save gas { June 11 2008 } Iran president says oil prices artificial { May 2008 } Israel iran attack threat shoots up oil { May 2008 } La rail line ridership rises 19perc { May 2008 } London blamed for oil price manipulation { June 13 2008 } Morgan stanley says 150d oil in month { May 2008 } No justification in oil price jump { June 10 2008 } Oil climbs above 126 as dollar weakens { April 2008 } Oil companies post big profits { March 2008 } Oil hits 130d a barrel { May 20 2008 } Oil hits near 140d barrel on weak dollar { May 2008 } Oil hits record 106d barrel { February 2008 } Oil jumps above 140 on libya comments { May 2008 } Oil market is plentiful says iran president { May 2008 } Oil nears 123d on goldman sachs prediction { April 2008 } Oil prices quickly rebound on iran ship incident { March 2008 } Oil record price jump defies explanation { June 9 2008 } Oil sets new high above 113d a barrel { March 2008 } Oil shoots over 144d on supply report { June 2008 } Oil temporarily drops as dollar gains { April 24 2008 } Oil touches 100d for first time { December 2008 } Opec blames oil price surge on speculators { April 2008 } Opec says high oil prices not their fault { May 2008 } Opec says oil could hit 200d barrel { April 28 2008 } Opec says oil could hit 200d barrel { April 2008 } Opec says peak oil is coming { May 2008 } Opec says speculators are driving up prices { May 9 2008 } Supply for oil increased as demand drops { June 13 2008 } There is no increased demand for oil { May 17 2008 } Truckers farmers protest gas prices in brussels { June 18 2008 } Files Listed: 40

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