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Oil Prices May Rise To $70, Algeria's Energy Minister

Oil prices could rise to 70 dollars by the year end and then touch 80 dollars, Algeria's energy minister told AFP

Oil Prices May Rise To $70, Algeria's Energy Minister

Algeria's energy minister Chakib Khelil believes that the global economy is starting to pick up, which will hover oil prices around 70 dollars between the end of 2009 and early 2010.

The Organization of the Petroleum Exporting Countries (OPEC) sees 75 dollars as the price at which investment in exploration and production becomes profitable.

Author: Ksenia Kochneva

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