OPEC AND OIL PRICES

Otaiba Says Crude Oil Prices Could Rise to $20/B Shortly 

Crude oil prices could rise to "an average of $20/B within a few days," as a result of OPEC's recent agreement to reduce output, the UAE Minister of Petroleum and Mineral Resources said last week. Speaking to the Arabic language London daily al-Sharq al-Awsat on 11 August, Dr. Otaiba said that reaching an OPEC agreement within OPEC had become a necessity after the recent deterioration in the...