Qatar’s Prime Minister Sheikh Hamad Bin Jassim Bin Jabr Al-Thani, during a visit to Cyprus, has opined “that $70 to $90 is a fair price (for oil) because you need new exploration to go on and as you know the investment in oil is expensive” adding “If the pricesgo low, that means maybe people enjoy this for a while, but then we will have spikes like we had at the beginning of this year in prices.” Oil is trading just over $60 presently, the lowest price since March 2007, and around 60% off the record $147.27 seen in July.