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You are here News Energy OPEC president says oil prices not tied to market

OPEC president says oil prices not tied to market

Monday, 02 June 2008 09:50
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He notes that OPEC controls only 40 percent of world oil production, and says the high prices do not reflect market conditions but rather other factors linked to the weakening dollar, market speculation and the U.S. subprime mortgage market turmoil.

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