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July 24, 2008 8:18:36 AM CDT

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OPEC Head Warns Oil Could Hit $200 a Barrel

Posted Apr 29, 08 5:26 AM CDT in World,  Business 

(Newser) – The president of the oil-producing cartel OPEC has warned that the price of the black gold could spike as high as $200 a barrel. As crude hovered just below the $120 barrier, Chakib Khelil told an Algerian newspaper that disruptions in production in Britain and Nigeria, coupled with a weak dollar and investor speculation, will keep prices rising.

Source Daily Telegraph (UK)

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Striking workers stand outside the Grangemouth oil refinery in Scotland Monday April 28, 2008.   (AP Photo)
Chakib Khelil speaks at a news conference after a meeting of ministers of the Organization of Petroleum Exporting Countries, OPEC, at their headquarters in Vienna, on Friday, Feb. 1, 2008.   (AP Photo/Ronald Zak)
Workers leave the INEOS refinery as they start the two-day walkout by up to 1,200 workers at the site in protest at plans to close a final pension salary scheme to new workers.   (AP Photo/Scott Heppell)
Oil pump jacks are seen at sunset in a corn field near Divernon, Ill., Wednesday, April 23, 2008.   (AP Photo/Seth Perlman)
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oil  • crude oil  • OPEC  • oil production


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