– Oil Crisis...is the world about to be shocked

Price of Crude Could Top 200 Dollars
Prensa Latina

Algiers-Even with ample supply, the weakness of the dollar could take the price of crude oil up to 200 dollars a barrel, OPEC President Chakib Khelil said Monday.

In statements published by El Moudjahid newspaper, Algerian Oil Minister Khelil explained that each time the dollar drops 1 percent, the price of crude oil increases four dollars, and vice versa.

The price of oil went to almost $120 a barrel in New York and London's North Sea Brent oil went over $117 on Monday due to fears of inadequate supply.

The 13 basics of the Organization of Petroleum Exporting Countries reached a historic high of $110.01 per barrel on Friday.

Analysts attributed that increase to fear about supplies due to the Scotland refinery strike closing of the greatest British oil pipeline and new violence in Nigeria, the largest African crude oil producer.