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 22nd January 2015 at 18:27 #

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

    Rizgar

    Washington, DC