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Interview with Nigeria’s Minister of State for Petroleum Resources on oil price

Double the 50 billion dollar target, that’s how Nigeria’s fundraising roadshow is going. Nigeria’s Minister of State for Petroleum Resources Emmanuel Ibe Kachikwu tells CCTVNEWS that he sees oil prices climbing steadily to 55 dollars by the end of the year and hitting 70 dollars next year. The former OPEC president says members should concentrate on cutting costs, not trying to squeeze out shale producers.

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