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Oil prices may top $200 per barrel with lack of investment - OPEC’s secretary-general

January 26, 2015, 19:24 UTC+3 LONDON
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LONDON, January 26. /TASS/. World oil prices may exceed $200 per barrel, if there is a lack of investment in new deposits, OPEC’s Secretary-General Abdalla El-Badri said in an interview with Bloomberg news agency on Monday.

“If you don’t invest in oil and gas, you will see more than $200,” he said.

The price of futures for Brent crude was seen to fall by 2.3% to $47.61 per barrel on Monday but recovered to $48.74 per barrel by 6:10pm Moscow time, narrowing its loss to 0.1%.

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