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UAE says oil price reflect market fundamentals
- United Arab Emirates: Monday, January 07 - 2013 at 04:12
UAE energy minister, Mohammed Dhaen Al Hamli has said that oil prices are reflecting fundamentals of demand and supply and the current prices of $105 to $110 are considered good in light of the circumstances in some producing countries in the region and beyond, Wam has reported. "New discoveries in America and the future reserves have direct impact on oil prices, on the short term and not on the long term. I expect prices in 2013 to be similar to prices in 2012," Al Hamli said.
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