(Reuters) - Oil prices at current levels may have reached a floor and could move higher very soon, OPEC's secretary-general said on Monday, his first public comment that oil's second-biggest decline on record may have run its course.
Abdulla al-Badri also warned of a risk of a future price spike to $200 a barrel if investment in new supply capacity is too low.
"Now the prices are around $45-$50 and I think maybe they reached the bottom and will see some rebound very soon," Badri told Reuters on the sidelines of a conference at Chatham House
Jan 26 (Reuters) - Poland's largest gas distributor PGNiG plans to make use of lower oil and gas prices to raise its output by buying deposits in Europe, North America and Asia, its deputy head was quoted as saying on Monday.
The state-controlled oil and gas group wants to raise its daily output by 67 percent to at least 150,000 boe (barrels of oil equivalent) by 2022.
"We are analysing purchases in Europe, mainly in the North Sea area," PGNiG's Zbigniew Skrzypkiewicz, responsible for exploration and excavation, told daily Parkiet.
According to the daily, the group is also thinking about Croatia and Romania, as well as the United States and Canada, Saudi Arabia, Oman and Pakistan.
The company, engaged in digging for shale gas in Poland, plans to spend around 2 billion zlotys ($530.64 million) on exploration and excavation - excluding takeovers - this year.
($1 = 3.7690 zlotys) (Reporting by Adrian Krajewski; editing by Jason Neely)
tests results are coming obviously..I would only guess peeps were buying in just in case they were released today etc...if we don't get them this week..we could see another Friday like the one just gone!!..who knows..have to wait and see.links
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