Wednesday, July 4, 2007

Algeria's Oil Minister Says Crude to Rise to $72, OPEC Won't Cut Output

(Bloomberg) -- Algeria's Oil Minister Chakib Khelil
said he expects oil prices to rise to $72 a barrel as consumption
increases over the summer months and said OPEC won't cut
production at its forthcoming meeting.

``The increasing demand for refined products will lead to
more tension on refineries and crude oil,'' Khelil said to
reporters in Algiers today.


Read more at Bloomberg Energy News

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