OPEC Official Muses About $200 Oil, Says Supply Is The Issue

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Mark Melin
Published on
Updated on
Saudi Arabia Crude Oil Zach Schreiber

Watch out for $200 per barrel oil, warns Abdalla El-Badri, OPEC secretary-general. The former Libyan oil minister, whose country’s oil production and rule of law have both broken down, says that oil could jump to $200 per barrel as low oil prices sweat out other producers and will likely create a supply issue. If you don’t invest in oil and gas, you will see more than US$200,” Abdalla El-Badri said in an interview in London on Monday. Although he did not provide a timeframe, he did opine on the current state of oil pricing, saying it had hit a floor. “Now…

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Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.