OPEC secretary general Abdullah al-Badri: oil prices will rebound “very soon”

Market news

21 January 2015

OPEC secretary general Abdullah al-Badri: oil prices will rebound “very soon”

OPEC secretary general Abdullah al-Badri said at the World Economic Forum in Davos on Wednesday that he believes oil prices will rebound "very soon".

He also defended OPEC's decision not to cut output in November. "It was a pure economic reason", al-Badri said.

Al-Badri noted that OPEC's policy was not directed at Russia, Iran or the United States.

Foreign exchange market. American session: the Canadian dollar dropped against the U.S. dollar as the Bank of Canada cut its interest rate

Bank of Canada lowered its interest rate to 0.75%

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