OPEC’s El-Badri Says Crude Prices Stable
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Crude prices are stable and the market has enough supply to meet demand, even amid geopolitical unrest in Europe and the Middle East, OPEC Secretary-General Abdalla El-Badri said today.
The OPEC basket, a weighted average of the main export grade from each of the group’s 12 members, has stayed above $100 for a record 200 days, according to data from the Organization of Petroleum Exporting Countries’ Vienna-based secretariat compiled by Bloomberg.