Too much speculation on oil price is ‘detrimental’

Too much speculation on prices damages the oil market, says OPEC’s chief. Addressing the 20th World Petroleum Congress in Qatar today, the Secretary General of OPEC, HE Abdalla S. El-Badri said that “excessive” speculation risked “distorting” prices. He said: “Let me stress, excessive speculation is detrimental to both producers and consumers and can cause prices […]