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


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 Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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