Libya’s Ghanem Expects Oil to Rise to $100 a Barrel
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Oil prices will climb to $100 a barrel, Shokri Ghanem, chairman of Libya’s National Oil Corp., said, as Arab oil ministers and officials gather in Cairo for a weekend meeting.
Ghanem told reporters that market conditions will determine whether OPEC decides to increase production quotas next year, without specifying a timeframe. Libya’s top oil official is in the Egyptian capital to attend a Dec. 25 meeting of the Organization of Arab Petroleum Exporting Countries.