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Fundamentals not behind high oil price - Qatar

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Monday, 26 October 2009
(Getty Images)
(Getty Images)

A rise in oil prices is not linked to supply and demand factors, Qatar's oil minister said on Monday, adding that there was no supply shortage.

"I am confident the high oil price is not related to supply and demand ... not related to shortage," Abdullah bin Hamad al-Attiyah told Reuters.

Asked about the possible outcome of the December meeting of the Organization of the Petroleum Exporting Countries (OPEC), Attiyah said it was too early to predict.

Attiyah, also deputy prime minister of the Gulf Arab state, said there were signs that the global economy is improving. "There is some (signs) in the world economy ... (in) China, India ... growth has started again." (Reuters)

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