Qatar sees crude oil price at $70-90/b

Qatari officials believe that a price of 70-90 dollars per barrel is a fair price for its crude exports as the cost of extracting oil is very high.
Speaking in Nicosia after signing seven bilateral cooperation agreements with Cyprus officials Tuesday, Qatar’s Prime Minister and Minister of Foreign Affairs Sheikh Hamad bin Jassim bin Jabr al Thani, said that if the prices go down, people will possibly benefit for a little while, however, subsequently the prices will soar at levels similar to those of early this year.
Asked if the two countries examined the possibility of cooperation in the transport of natural gas to Cyprus from Qatar, President Demetris Christofias said that both countries are open for discussion on all issues which are related to economic cooperation.
Sheikh al Thani and his high level delegation, including the finance minister and the deputy head of the central bank, were received earlier by President Christofias and members of the Cyprus Cabinet.
Speaking after the official talks and the signing of the agreements, Christofias described the seven agreements achieved in various sectors as “very significant”. He said Sheikh al Thani’s visit constitutes a “cornerstone in relations between the two countries”.
“During our talks, we have agreed to develop rapidly, the economic, tourism and political relations between the Republic of Cyprus and the Qatar Emirate”, the president remarked, adding that he accepted an invitation to visit Qatar.
President Christofias said Qatar maintains close relations with Turkey and for this reason “I have asked the Prime Minister to make use of these relations to ensure that Turkey understands that the successful outcome of the current difficult efforts for a just, viable and functional solution of the Cyprus problem will be to its benefit as far as its accession to the EU is concerned.”
Sheikh al-Thani, thanking the president for the warm reception, said the discussions were merely the start of a course to develop relations between the two countries, noting that his country has great aspirations to enhance these relations.
“Today, we set a small foundation in building these relations, in enhancing relations between the two countries and I have conveyed an invitation from the Emir of Qatar to the President of the Republic to visit our country and we hope that he will do so soon”, the Prime Minister said.
On the Cyprus problem, Sheikh al-Thani said his country hoped that “this issue is resolved through negotiations, through diplomatic dialogue and wish that peace and security prevail in the region for the benefit of all countries.”