Oil Prices have “Reached Bottom”: Oil Minister

By John Lee.

Iraqi Oil Minister Adel Abdul Mahdi told a conference in Kuwait on Wednesday that oil prices are unlikely to fall further, following the drop of nearly 60 percent since June:

Our estimate is that the prices (of oil) have reached the bottom. It is very difficult to drop lower than this …

“We do not find any real justification for the big and persistent drop in oil prices …

“A number of factors will work to correct oil prices upward.”

(Sources: AFP, Reuters)

6 Responses to Oil Prices have “Reached Bottom”: Oil Minister

  1. Rizgar January 22, 2015 at 6:27 pm #

    You are wrong! The price of oil will drop to $35 within the next two months.

    Rizgar

    Washington, DC