Oil at $70-$75 a barrel fair for producers, consumers -Sonatrach CEO
ALGIERS (Reuters) – An oil price between $70 and $75 a barrel is “fair” for producers and consumers but geopolitics will leave the market volatile, the CEO of Algerian state energy firm Sonatrach said on Monday.
Abdelmoumen Ould Kaddour, Chief Executive of Algerian state energy firm Sonatrach, looks on during the launch of new gas pipeline from southwestern fields, Algeria, February 8, 2018. REUTERS/Lamine Chikhi
“Geopolitics is not predicable,” Abdelmoumen Ould Kaddour told reporters. “So tomorrow we can have a barrel at $100 or at $60, it is so volatile, so unstable, that anything can hit the stability of the market.”
Reporting by Lamine Chikhi; editing by Jason Neely
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