Wednesday, June 27, 2007

IEA Expects Oil Prices to Remain Near $70 a Barrel, Economist Birol Says

(Bloomberg) -- Crude oil prices will probably remain
near $70 a barrel during the next year because of political
tensions in Nigeria, Iran and Iraq, the chief economist of the
International Energy Agency said.

``I would be surprised if prices go down significantly,'' the
IEA's Fatih Birol said in an interview today at an energy
conference in Istanbul. ``We are going through difficult times.''


Read more at Bloomberg Energy News

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