Algerian oil minister expects oil prices to stay above US30/bbl until early 2005

摘要

Algerian oil minister Chakib Khelil said Aug 29 oil prices should stay above US30/bbl until early 2005 because of what he described as a very tight margin between supply and demand."The growth in oil demand,which has been exceptional this year at 2.4-mil b/d compared to an average 1.5-mil b/d,will continue and this tension between demand and supply will persist with the approach of (the northern hemisphere) winter," Khelil said as quoted by official news agency APS."This situation will keep prices high at levels above US30/bbl," he said.