The headline-reading algos were at the top of their game this morning when milliseconds after OPEC's general secretary Abdalla El-Badri said oil prices could reach $200 a barrel if there's a lack of investment following this price slump... though failed to provide any timeline for his forecast. WTI prices jumped $1 from $45 to $46 even as El-Badri noted the market was still over-supplied by 1.5 million barrels per day.
- *OPEC'S EL-BADRI HOPES OIL MKT WILL RECOVER IN `REASONABLE TIME'
- *OPEC OPEN TO DISCUSSIONS WITH NON-OPEC TO BALANCE MKT: EL-BADRI
- *OPEC TO RESUME SWING-PRODUCER ROLE EVENTUALLY: EL-BADRI
- *EL-BADRI SEES SOME OPEC UPSTREAM PROJECTS CANCELED