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Published in TZ Latest News 26 January, 2015 by The TZ Newswire Staff

Oil steadies after OPEC says prices may have bottomed

Brent crude oil prices held above $48 on Tuesday following comments from OPEC that prices may have found a floor. OPEC Secretary-General Abdullah al-Badri said oil prices may have bottomed out and he warned of a risk of a future jump to $200 a barrel if investment in new supplies was too low. “OPEC’s Secretary General commented yesterday that prices may have bottomed, but there was no imminent prospect of OPEC producers sitting down to discuss cutbacks until mid-year,” ANZ said.

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