OPEC’s Khelil rules out oil price decline: APS

ALGIERS (Reuters) – OPEC President Chakib Khelil ruled out on Sunday an eventual oil price fall in view of strong Chinese and Indian demand, adding geopolitics and a weak dollar were behind the current spike, Algeria’s APS news agency reported.

“Steadily rising oil prices are due to phenomena that have nothing to do with supply and demand,” Khelil, also Algerian Energy and Mines Minister, was quoted by the state news agency as saying in a briefing for diplomats.

Reuters