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Algeria oilmin says $90-$100 oil price “reasonable”

Current oil prices are better than their level in the past years-says minister.


October 11, 2010 1:38 by

An oil price of between $90 and $100 per barrel would be reasonable, Algerian Energy and Mines Minister Youcef Yousfi said on Monday.

“Current oil prices are better than their level in the past years but a price ranging between $90 and $100 per barrel would be reasonable,” Yousfi said.

Algeria is a member of oil exporters’ group OPEC, which will meet in Vienna on Oct. 14. “The decline in the dollar’s value and its impact on the earnings of producers will be discussed at the meeting on Oct. 14,” Yousfi said.

(Reporting by Hamid Ould Ahmed; Writing by Christian Lowe; Editing by Anthony Barker)


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