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. Last Updated: 07/27/2016

Oil Price Rise Likel

ABU DHABI, United Arab Emirates () -- Oil prices will exceed $25 a barrel if demand continues to increase, the head of the main oil producer in the United Arab Emirates state-run oil company has said.


In comments published Sunday, Youssef bin Omeir bin Youssef also told the Arabic-language Al-Hayat daily that the Organization of Petroleum Exporting Countries could change its production ceiling if there is consensus for it. OPEC's benchmark price is currently around $23 per barrel, well above its target of $21 a barrel.