OPEC Secretary-General Abdalla el-Badri said he expects crude prices to remain above $100 a barrel for the rest of 2011 and blamed speculation for playing “a very important role” in oil markets.
Global markets are “very comfortable,” with ample supplies, he told a news conference today in Tehran.
Current crude inventories are sufficient to meet demand for 58 days, or five days above average, el-Badri said.
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