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Oil price too low to attract investment, says UAE
- United Arab Emirates: Wednesday, February 11 - 2009 at 09:36
Crude oil prices of around $40 a barrel are too low to attract enough investment in new supplies, the oil minister for the UAE said. Mohammed al-Hamli, speaking at a conference in London, said the current crude oil price is about half the level needed to attract adequate investment in the industry, reported Reuters.
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Jeff Florian, Senior ReporterWednesday, February 11 - 2009 at 09:36 UAE local time (GMT+4)
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