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Global oil prices likely to touch to $60/barrel: Osama Kamal

 NelsonStella
  39
 May 31, 2024

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(This article was published on October 20, 2014) MUMBAI: Global crude oil prices are set to fall sharply and are expected to fall further by as much as a third in the coming days, former Egyptian oil minister Osama Kamal said. Mumbai to Aditya’s Kamal Birla Group “I expect crude oil prices to touch 60 barrels per barrel,” the executive said Dollar, which will affect multiple economies. India is one of the major investors in Egypt, owning more than a dozen companies. In Egypt, we employ more than 35,000 people Names of local employees. “Aditya Birla The group owns one of the world’s largest carbon black manufacturers in Egypt. It has also built a new polyester plant with a capacity of 420,000 tons per year.

Kamal said the Egyptian economy has resumed its road to recovery. He added: “Our economy will be back on track within three years and the signs are clear: inflation is around 8.2% and fuel consumption is under control.” .

Egypt is moving ahead with an ambitious plan to develop the Suez Canal axis, which he said would bring $100 billion in investment to the country through projects involving shipbuilding and repair yards.

He also said Egypt’s transition to civilian rule is on track. /blood

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