Oil prices hit new six month high | Saudi King says fair oil price is 75 - 80 dollars

Thursday, May 28, 2009

On Friday, In New york the oil prices rise to 62.54 $ dollars per barrel which is the new six month high, infact most highest prices in 2009 while in London's Brent North Sea crude for July the prices were jumped to 61.24 dollars after an increase of 1.03 dollars.

On the other hand, The Saudi King Abdullah published remarks that the fair price is 75 dollars and infact 80 dollars is more suitable as of now due to the economic crises, Saudi Arabia which is the top oil exporter hopes for increased prices in oil and expecting a stabilize and profitable price of oil.

So what everyone think, what will be the price of oil on this year end ?