The world economy could get some help with the arrival of a new U.S. president, and possibly a new economic policy, "and with this new situation it is very probable that the dollar will start to recover and thus permit a readjustment of the (oil) market," El Moudjahid quoted him as saying.
OPEC members meeting in Vienna last week decided to hold production flat, insisting markets were well supplied and blaming record prices on factors outside the group's control, including speculators and what Khelil called the "mismanagement" of the U.S. economy.
This is very disturbing. I read this statement as saying something along the lines of:
Unless there is a presidential change in the November elections which changes the US economic policy to continue its dependence on the oil we provide (as opposed to seeking alternate energy source), the oil prices will continue to rise.
Not cool.
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