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Algeria oil min expects $60 oil, boost from G20

Algeria oil min expects $60 oil, boost from G20

Write: Woody [2011-05-20]
VIENNA - Oil prices should reach $60 a barrel by the end of the year, Energy and Mines Minister Chakib Khelil told a news briefing on Tuesday.

He said he expected the April 2 G20 summit of established and emerging economic powers to produce a package to stimulate the world economy, boosting stock markets and the price of oil.

Khelil said his own country could live with oil prices around the current $45 a barrel for two to three years.