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OPEC’s El-Badri Says $200 Oil Possible With Lack of Spending

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OPEC’s secretary-general said oil prices as high as $200 a barrel are possible if producers fail to invest in new supply. Crude futures erased losses in New York.

“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.