OPEC general sec speaking in New Delhi, holding talks with Indian oil min

  • this oil price will change in a few months, year or so

Gee, thanks for that accurate insight!

  • OPEC looking at fair price
  • looking at reasonable oil prices
  • non-OPEC supplies to be cut by 400k bpd by 2016
  • US exporting will not affect oil prices
  • India is becoming a power house

El-Badri says he will have similar meetings with China, EU and Russia but has no knowledge of an emergency OPEC meeting

Indian oil min says they now import 95% of its gas from OPEC and 85% of its oil

Meanwhile oil prices are falling again with Brent and WTI both on session lows at $37.57 and $36.10 respectively