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/ 19 May 2008

Opec president says oil market well supplied

Oil markets are well supplied and high prices are the result of speculation, a weak dollar and geopolitical problems, Organisation of the Petroleum Exporting Countries (Opec) president Chakib Khelil said on Monday. ”As for Opec, indications show that there is no shortage [of supply],” he told a public forum on energy.

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/ 28 April 2008

Oil sets new record near $120

Oil hit a new record near a barrel on Monday, boosted by a string of bullish factors that include a United Kingdom refinery strike and disruptions to Nigeria’s output that highlight the market’s anxieties over threats to supply. Prices held firm below earlier highs, despite a rally in the US dollar versus the euro and yen.

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/ 9 September 2007

Car bomb kills dozens in Algeria

A car bomb has killed at least 28 coast guard officers in Algeria just days after a blast ripped through a crowd waiting for the president. The bombings are being seen as a show of strength by the country’s main extremist group, which has gained force after linking up with al-Qaeda. Interior Minister Noureddine Yazid Zerhouni warned terrorists that they have ”one choice: turn themselves in or die”.