13:04 GMT30 May 2020
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    DOHA (Sputnik) - Oil prices could be at $30-40 per barrel in the last quarter of this year, Omani Oil Minister Mohammed Al Rumhi told Al-Watan newspaper.

    "The return to the oil price growth depends on many factors, including the suspended spread of the coronavirus and the possibility for OPEC to return to the negotiating table and agree on the stabilization of the market and reducing oil output, so oil prices in the last quarter of this year may fluctuate between $30-40 per barrel," Al Rumhi said.

    Oil prices halved since early March due to the expected demand slump after the breakup of the OPEC+ oil output cut deal and amid the coronavirus outbreak.

    After OPEC+ states failed to agree on further output cuts, market analysts began to predict a "price war" between main exporters.

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    barrel, Oman, oil
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