OPEC’s El-Badri: $200 Oil Possible If No One Invests
This article is for subscribers only.
OPEC’s secretary-general said oil prices as high as $200 a barrel are possible if producers fail to invest in new supply.
“If you don’t invest in oil and gas, you will see more than $200,” Abdalla El-Badri said in an interview in London on Monday, without giving a timeframe. West Texas Intermediate, the U.S. crude benchmark, erased a decline of as much as 2.7 percent following his comments.