Oil ministers from both Venezuela and Libya said they did not believe $100 oil prices would do any damage to the world economy. Libya’s minister believe that crude at $120 a barrel would not cripple worldwide GDP expansion.
Fortunately, the Libya and Venezuela are among the hawks in OPEC. Each nation has a troubled economy which could threaten the fate of the siting governments.
Fortunately, the Libya and Venezuela are among the hawks in OPEC. Each nation has a troubled economy which could threaten the fate of the siting governments.
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