3 July 2008
Madrid — Angola's Oil minister, Desidério Costa, Wednesday in Madrid (Spain), said the current oil price instability is due to the action of speculators and permanent depreciation of the US Dollar.
The official said so while answering to journalist on Angola's position regarding the rise in oil price in the international market.
The minister was speaking at the end of the ministerial session of the 19th World Petroleum Congress.
Angola totally supports the Organisation of Petroleum Exporting Countries (OPEC) according to which there is no oil crisis in the market in terms of production, stock and reserves.
The organisation's chairperson, Chakib Khelil, on Tuesday rejected the crisis allegations and criticised Bush administration and blamed the United States monetary policy for the situation.
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