Oil at $70-$75 a barrel fair for producers, consumers -Sonatrach CEO

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ALGIERS (Reuters) – An oil price between $70 and $75 a barrel is “fair” for producers and consumers but geopolitics will leave the market volatile, the CEO of Algerian state energy firm Sonatrach said on Monday.

“Geopolitics is not predicable,” Abdelmoumen Ould Kaddour told reporters. “So tomorrow we can have a barrel at $100 or at $60, it is so volatile, so unstable, that anything can hit the stability of the market.”

Reporting by Lamine Chikhi; editing by Jason Neely

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Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of Naija247news.com and also sits on the board of Students In Business Awards, (SIBA).

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