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Opec has tied hands
- Qatar: Thursday, January 03 - 2008 at 10:09
Opec can do nothing about oil prices that hit a record high of $100 as the rise is due to geopolitics and speculation and not supply problems, Qatar's oil minister Abdullah Al-Attiyah said, reported Reuters. Opec has no plans to hold emergency talks after the price hit $100, Al-Attiyah said. The producer group is next due to meet on February 1.By then, the group will be looking ahead to the second quarter, when oil demand drops as winter comes to an end in the northern hemisphere.
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Amena Bakr, Senior ReporterThursday, January 03 - 2008 at 10:09 UAE local time (GMT+4)
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