LUANDA, Aug 31 (Reuters) - The fall in the price of oil from record highs proves that prices were being driven up by speculators and not because of a shortage of supply, Angola's Finance Minister was quoted as saying.
'Today, when I look at the correction in oil prices ... I feel perfectly comfortable with what The Organization of the Petroleum Exporting Countries (OPEC) said a few months ago,' Jornal de Economia e Financas quoted Jose Pedro de Morais as saying.
'The rise in the price of oil was not related to a gap between supply and demand but was due to speculative activities,' Morais said.
(Reporting by Henrique Almeida) Keywords: ANGOLA OIL/REPORT tf.TFN-Europe_newsdesk@thomsonreuters.com wj COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
'Today, when I look at the correction in oil prices ... I feel perfectly comfortable with what The Organization of the Petroleum Exporting Countries (OPEC) said a few months ago,' Jornal de Economia e Financas quoted Jose Pedro de Morais as saying.
'The rise in the price of oil was not related to a gap between supply and demand but was due to speculative activities,' Morais said.
(Reporting by Henrique Almeida) Keywords: ANGOLA OIL/REPORT tf.TFN-Europe_newsdesk@thomsonreuters.com wj COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.