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

0
598

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

This site uses Akismet to reduce spam. Learn how your comment data is processed.